GBP/USD Technical Analysis: Failure to sustain trendline break can recall 1.3100
FXStreet News

GBP/USD Technical Analysis: Failure to sustain trendline break can recall 1.3100

  • GBP/USD struggles to hold recent strength as it trades near 1.3220 ahead of London open on Tuesday.
  • The pair rose to 1.3290 during early-day increase after Brexit optimists welcomed the meeting between the UK PM Theresa May and the EU Commission Chief Jean-Claude Juncker.
  • However, prices failed to remain strong and are witnessing pullback at press time.
  • Should there be a dip beneath 1.3180, sellers may aim for 1.3105/1.3100 horizontal-region comprising important reversal points since early February.
  • Given the pair’s sustained downturn under 1.3100, 1.3030 can act as intermediate halt ahead of highlighting ten-week-old support-line, at 1.2970.
  • Alternatively, successful trading beyond 1.3300 could escalate recent recovery towards February month high near 1.3350.
  • During the pair’s extended rise past-1.3350, 61.8% Fibonacci expansion (FE) of its latest moves, at 1.3530, seems next big resistance for the pair traders to watch. Though, 1.3380, 1.3410 and 1.3460 may meanwhile entertain short-term traders.

GBP/USD 4-Hour chart


Addiitonal important levels:

       Today Last Price:  1.3252
       Today Daily change:  100  pips
       Today Daily change %:  0.76%
       Today Daily Open:  1.3152
       Daily SMA20:  1.3073
       Daily SMA50:  1.298
       Daily SMA100:  1.2884
       Daily SMA200:  1.2986
       Previous Daily High:  1.3171
       Previous Daily Low:  1.296
       Previous Weekly High:  1.3269
       Previous Weekly Low:  1.299
       Previous Monthly High:  1.3351
       Previous Monthly Low:  1.2773
       Daily Fibonacci 38.2%:  1.309
       Daily Fibonacci 61.8%:  1.3041
       Daily Pivot Point S1:  1.3018
       Daily Pivot Point S2:  1.2884
       Daily Pivot Point S3:  1.2807
       Daily Pivot Point R1:  1.3229
       Daily Pivot Point R2:  1.3305
       Daily Pivot Point R3:  1.344


FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.