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  • The Cable is facing continued downside pressure as the Sterling continues to slip from near-term highs.
  • GBP/USD Forecast: Attempts to defend 50/100-DMA confluence support ahead of UK macro data

GBP/USD M5

  • Hourly candles see the GBP/USD geared for a test of the 200-hour moving average from 1.2970, with intraday resistance from the 50-hour moving average at 1.3090, constraining the Cable’s ability to make a run in either direction for Friday.

GBP/USD H1

  • Looking further out, the Cable has gone cyclical, whipping between highs and lows in a zone between 1.3300 and 1.2690.

GBP/USD H4

GBP/USD

Overview:
       Last Price:  1.3042
       Daily change:  -19  pips
       Daily change:  -0.145%
       Daily Open:  1.3061
Trends:
       Daily SMA20:  1.2987
       Daily SMA50:  1.3032
       Daily SMA100:  1.3037
       Daily SMA200:  1.3409
Levels:
       Daily High:  1.3152
       Daily Low:  1.3045
       Weekly High:  1.3042
       Weekly Low:  1.2696
       Monthly High:  1.326
       Monthly Low:  1.2696
       Daily Fibonacci 38.2%:  1.3086
       Daily Fibonacci 61.8%:  1.3111
       Daily Pivot Point S1:  1.302
       Daily Pivot Point S2:  1.2979
       Daily Pivot Point S3:  1.2914
       Daily Pivot Point R1:  1.3127
       Daily Pivot Point R2:  1.3192
       Daily Pivot Point R3:  1.3233

GBP/USD

Overview:
       Last Price:  1.3044
       Daily change:  -17  pips
       Daily change:  -0.130%
       Daily Open:  1.3061
Trends:
       Daily SMA20:  1.2987
       Daily SMA50:  1.3032
       Daily SMA100:  1.3037
       Daily SMA200:  1.3409
Levels:
       Daily High:  1.3152
       Daily Low:  1.3045
       Weekly High:  1.3042
       Weekly Low:  1.2696
       Monthly High:  1.326
       Monthly Low:  1.2696
       Daily Fibonacci 38.2%:  1.3086
       Daily Fibonacci 61.8%:  1.3111
       Daily Pivot Point S1:  1.302
       Daily Pivot Point S2:  1.2979
       Daily Pivot Point S3:  1.2914
       Daily Pivot Point R1:  1.3127
       Daily Pivot Point R2:  1.3192
       Daily Pivot Point R3:  1.3233