“¢ The pair’s intraday retracement found decent support near 50-day/hour SMA, with bulls now eyeing a move towards reclaiming the 1.3100 handle amid renewed Brexit optimism.
“¢ The fact that the pair has managed to find acceptance above important short-term moving averages – 50 & 100-day SMAs, support prospects for an extension of the positive momentum.
“¢ However, technical indicators on the daily chart are yet to catch up with the ongoing bullish trajectory and might turn out to be the only factor keeping a lid on any follow-through.
“¢ A convincing break through the mentioned handle should pave the way for further gains towards a descending trend-line, extending from highs set in June/Sept. and Oct.
GBP/USD daily chart
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GBP/USD
Overview:
Last Price: 1.3074
Daily change: 34 pips
Daily change: 0.261%
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
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