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GBP/USD Technical Analysis: Bulls still struggling to find acceptance above 200-hour EMA

   “¢   The pair continued with its struggle to sustain/build on the strength beyond 200-hour EMA, with the intraday bullish momentum failing ahead of the 1.2800 mark.

   “¢   The mentioned handle nears a short-term descending trend-line resistance, extending from Nov. 23 daily swing highs and might continue to act as stiff resistance.  

   “¢   Technical indicators on the 1-hourly chart have been gaining traction but maintained their bearish bias on 4-hourly/daily chart and should thus, cap any meaningful up-move.

   “¢   Hence, it would be prudent to wait for a sustained move beyond the mentioned barriers before traders start positioning for any further near-term positive momentum.
 

GBP/USD 1-hourly chart

GBP/USD

Overview:
       Today Last Price:  1.2776
       Today Daily change:  65  pips
       Today Daily change %:  0.511%
       Today Daily Open:  1.2711
Trends:
       Previous Daily SMA20:  1.2852
       Previous Daily SMA50:  1.2952
       Previous Daily SMA100:  1.2968
       Previous Daily SMA200:  1.3304
Levels:
       Previous Daily High:  1.284
       Previous Daily Low:  1.2659
       Previous Weekly High:  1.2864
       Previous Weekly Low:  1.2725
       Previous Monthly High:  1.3176
       Previous Monthly Low:  1.2723
       Previous Daily Fibonacci 38.2%:  1.2728
       Previous Daily Fibonacci 61.8%:  1.2771
       Previous Daily Pivot Point S1:  1.2633
       Previous Daily Pivot Point S2:  1.2555
       Previous Daily Pivot Point S3:  1.2452
       Previous Daily Pivot Point R1:  1.2815
       Previous Daily Pivot Point R2:  1.2918
       Previous Daily Pivot Point R3:  1.2996

 

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