GBP/USD Technical Analysis: Cable bulls are relentless as they blast towards 1.3160 target

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GBP/USD daily chart 

  • GBP/USD is evolving in a bear trend below its 200-day simple moving averages (SMA) on the daily chart.
  • However, bulls have reclaimed the 50 and 100 SMAs and they are now testing the 200 SMA, all suggesting intense bullish activity.

GBP/USD 4-hour chart

  • GBP/USD is trading above the main SMAs and the 1.3000 round figure suggesting bullish momentum in the medium-term.

GBP/USD 30-minute chart

  • GBP/USD is trading above its main SMAs suggesting bullish strength. 
  • Bulls show no signs of stopping their advance and the target to the upside can be seen at the 1.3160 level in the coming sessions.
  • Support is seen at the 1.3000 figure and 1.2970 level.

Additional key levels

GBP/USD

Overview:
    Today Last Price: 1.3069
    Today Daily change: 117 pips
    Today Daily change %: 0.90%
    Today Daily Open: 1.2952
Trends:
    Daily SMA20: 1.2785
    Daily SMA50: 1.2751
    Daily SMA100: 1.2892
    Daily SMA200: 1.3079
Levels:
    Previous Daily High: 1.2976
    Previous Daily Low: 1.2855
    Previous Weekly High: 1.3002
    Previous Weekly Low: 1.2668
    Previous Monthly High: 1.284
    Previous Monthly Low: 1.2477
    Daily Fibonacci 38.2%: 1.293
    Daily Fibonacci 61.8%: 1.2901
    Daily Pivot Point S1: 1.288
    Daily Pivot Point S2: 1.2807
    Daily Pivot Point S3: 1.2759
    Daily Pivot Point R1: 1.3001
    Daily Pivot Point R2: 1.3049
    Daily Pivot Point R3: 1.3122

 

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