- The GBP/USD pair has cleared the falling trendline from Oct. 16 highs on Brexit optimism, confirming that a temporary low has been made at 1.2696.
- The spot has also found acceptance above the 50-hour and 100-hour EMAs, which has bottomed out (shed bearish bias).
- However, the hourly relative strength index (RSI) is reporting overbought conditions. Hence, a break above the 200-hour EMA of 1.2860 may remain elusive for the next couple of hours. Moreover, a minor pullback could yield a more sustained move above the key average.
- The bullish view would be negated if the currency pair falls back below the trendline.
Hourly Chart
Trend: Bullish
GBP/USD
Overview:
Last Price: 1.2849
Daily change: 83 pips
Daily change: 0.650%
Daily Open: 1.2766
Trends:
Daily SMA20: 1.3012
Daily SMA50: 1.3015
Daily SMA100: 1.3048
Daily SMA200: 1.3441
Levels:
Daily High: 1.2832
Daily Low: 1.2699
Weekly High: 1.3092
Weekly Low: 1.2777
Monthly High: 1.326
Monthly Low: 1.2696
Daily Fibonacci 38.2%: 1.2781
Daily Fibonacci 61.8%: 1.275
Daily Pivot Point S1: 1.2699
Daily Pivot Point S2: 1.2632
Daily Pivot Point S3: 1.2565
Daily Pivot Point R1: 1.2832
Daily Pivot Point R2: 1.2899
Daily Pivot Point R3: 1.2966