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  • The GBP/USD pair is seeing a quick drop into the 1.2775 region as the European continent begins to come online, and early trades are suggesting that the US Dollar could be popular today.
  • Brexit excitement aside, the Cable is primed for an intraday drop after posting a lower swing high on the intraday, clipping into 1.2820 before declining in fresh Greenback bidding.

GBP/USD Chart, 5-Minute

  • Brexit tensions have kept the Cable in a volatile, trendless range since mid-November, but new Dollar bidding could send the GBP/USD into new lows at the 1.2700 region if selling power continues.

GBP/USD Chart, 30-Minute

  • Over the past month and a half, the Cable has found itself constrained within a tightening sideways triangle, and a break low will see GBP bears primed for a continued slide beyond October’s lows at the 1.2700 handle.

GBP/USD Chart, 4-Hour

GBP/USD

Overview:
       Today Last Price:  1.2781
       Today Daily change:  -32  pips
       Today Daily change %:  -0.250%
       Today Daily Open:  1.2813
Trends:
       Previous Daily SMA20:  1.2905
       Previous Daily SMA50:  1.3
       Previous Daily SMA100:  1.2995
       Previous Daily SMA200:  1.3341
Levels:
       Previous Daily High:  1.2866
       Previous Daily Low:  1.2796
       Previous Weekly High:  1.2928
       Previous Weekly Low:  1.2764
       Previous Monthly High:  1.326
       Previous Monthly Low:  1.2696
       Previous Daily Fibonacci 38.2%:  1.2822
       Previous Daily Fibonacci 61.8%:  1.2839
       Previous Daily Pivot Point S1:  1.2784
       Previous Daily Pivot Point S2:  1.2755
       Previous Daily Pivot Point S3:  1.2714
       Previous Daily Pivot Point R1:  1.2854
       Previous Daily Pivot Point R2:  1.2894
       Previous Daily Pivot Point R3:  1.2923