- Trapped in a descending triangle, the GBP/USD pair is currently trading at 1.2770.
- At press time, the triangle resistance is located 1.2809 and support is seen at 1.2725.
- A break above 1.2809 would confirm a descending triangle breakout or bearish-to-bullish trend change. Essentially, a close above 1.2809 would mean the sell-off from the Nov. 7 high of 1.3175 has likely ended at 1.2723 (Nov. 15 low) and the bulls have regained control.
- A bull breakout, if confirmed, would open the doors to 1.30 (psychological hurdle).
Daily Chart
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Trend: Bullish above 1.2809
GBP/USD
Overview:
Today Last Price: 1.2771
Today Daily change: 28 pips
Today Daily change %: 0.220%
Today Daily Open: 1.2743
Trends:
Previous Daily SMA20: 1.2887
Previous Daily SMA50: 1.2969
Previous Daily SMA100: 1.2977
Previous Daily SMA200: 1.3317
Levels:
Previous Daily High: 1.281
Previous Daily Low: 1.2735
Previous Weekly High: 1.2864
Previous Weekly Low: 1.2725
Previous Monthly High: 1.3176
Previous Monthly Low: 1.2723
Previous Daily Fibonacci 38.2%: 1.2764
Previous Daily Fibonacci 61.8%: 1.2781
Previous Daily Pivot Point S1: 1.2715
Previous Daily Pivot Point S2: 1.2688
Previous Daily Pivot Point S3: 1.264
Previous Daily Pivot Point R1: 1.279
Previous Daily Pivot Point R2: 1.2837
Previous Daily Pivot Point R3: 1.2865
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