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

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   •  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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