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  • GBP/USD is trading in a bear trend below its 200-period simple moving average. However, bulls are busy trying to create a reversal up.  
  • The 200 SMA on the 4-hour chart is currently capping any bullish advance. Failure to break above it and the 1.3050 level can lead to a rotation to 1.3000 and 1.2947 levels. The RSI indicator is above 50, the MACD is bullish while the Stochastic is in overbought condition.  
  • On the flip side, a break above 1.3050 can lead to an advance to 1.3100 and 1.3200 figure.  

GBP/USD 4-hour chart

Main trend:                      Bearish

Resistance 1:                  1.3000 figure
Resistance 2:                  1.3043, October 23 high
Resistance 3:                  1.3100 figure
Resistance 4:                  1.3200 figure

Support 1:                      1.2947 key resistance
Support 2:                      1.2921 October 4 low
Support 3:                      1.2900 figure
Support 4:                      1.2854 October 29
Support 5:                      1.2800 figure

 

Additional key levels at a glance:

GBP/USD

Overview:
       Last Price:  1.3021
       Daily change:  53  pips
       Daily change:  0.409%
       Daily Open:  1.2968
Trends:
       Daily SMA20:  1.3003
       Daily SMA50:  1.3021
       Daily SMA100:  1.3042
       Daily SMA200:  1.343
Levels:
       Daily High:  1.3042
       Daily Low:  1.2952
       Weekly High:  1.3042
       Weekly Low:  1.2696
       Monthly High:  1.326
       Monthly Low:  1.2696
       Daily Fibonacci 38.2%:  1.2986
       Daily Fibonacci 61.8%:  1.3008
       Daily Pivot Point S1:  1.2932
       Daily Pivot Point S2:  1.2896
       Daily Pivot Point S3:  1.2841
       Daily Pivot Point R1:  1.3023
       Daily Pivot Point R2:  1.3078
       Daily Pivot Point R3:  1.3114