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  • GBP/USD is trading in a bull trend above the 200-period simple moving average on the 4-hour chart.  
  • GBP/USD has enjoyed a significant 400-pip bull run in the last days of trading. Bulls are trying to break above the 1.3100 figure this Tuesday but found resistance. Bulls might try to give another try at the 1.3100 level later in the New York session but if bulls fail twice at this level that doesn’t bode well for them as a pullback to 1.3043  could be in the making.
  • The RSI, MACD and Stochastic indicators suggest a somewhat overbought market with limited upside potential.  

GBP/USD 4-hour chart

Main trend:                      Bullish

Resistance 1:                  1.3100 figure
Resistance 2:                  1.3200 figure
Resistance 3:                  1.3259 October 12 high

Support 1:                      1.3043, October 23 high
Support 2:                      1.3000 figure
Support 3:                      1.2947 key resistance
Support 4:                      1.2921 October 4 low
Support 5:                      1.2900 figure
Support 6:                      1.2854 October 29

 

Additional key levels at a glance:

GBP/USD

Overview:
       Last Price:  1.3072
       Daily change:  32  pips
       Daily change:  0.245%
       Daily Open:  1.304
Trends:
       Daily SMA20:  1.3001
       Daily SMA50:  1.3024
       Daily SMA100:  1.304
       Daily SMA200:  1.3424
Levels:
       Daily High:  1.3056
       Daily Low:  1.2965
       Weekly High:  1.3042
       Weekly Low:  1.2696
       Monthly High:  1.326
       Monthly Low:  1.2696
       Daily Fibonacci 38.2%:  1.3
       Daily Fibonacci 61.8%:  1.3021
       Daily Pivot Point S1:  1.2984
       Daily Pivot Point S2:  1.2928
       Daily Pivot Point S3:  1.2892
       Daily Pivot Point R1:  1.3076
       Daily Pivot Point R2:  1.3112
       Daily Pivot Point R3:  1.3168