GBP/USD Technical Analysis: Cable bulls break above the 1.2900 figure
- GBP/USD is trading in a bear trend below the 200-period simple moving average.
- GBP/USD rebounded from the 1.2700 level and is now testing the 1.1921 October 4 low. GBP/USD broke above the 50 SMA suggesting that bulls have retaken some control.
- As indicators are in positive territories bullishness is expected to persist in the coming sessions with 1.2947 and 1.3000 as the level to beat for bulls.
GBP/USD 4-hour chart
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Main trend: Bearish
Short-term trend: Bullish
Resistance 1: 1.2921 October 4 low
Resistance 2: 1.2947 key resistance
Resistance 3: 1.3000 figure
Support 1: 1.2900 figure
Support 2: 1.2854 October 29
Support 3: 1.2800 figure
Support 4: 1.2750 figure
Support 5: 1.2700 figure
Support 6: 1.2660 August low (2018 low)
Support 7: 1.2589 June 21, 2017
Additional key levels at a glance:
GBP/USD
Overview:
Last Price: 1.2919
Daily change: 1.5e+2 pips
Daily change: 1.20%
Daily Open: 1.2766
Trends:
Daily SMA20: 1.3012
Daily SMA50: 1.3015
Daily SMA100: 1.3048
Daily SMA200: 1.3441
Levels:
Daily High: 1.2832
Daily Low: 1.2699
Weekly High: 1.3092
Weekly Low: 1.2777
Monthly High: 1.326
Monthly Low: 1.2696
Daily Fibonacci 38.2%: 1.2781
Daily Fibonacci 61.8%: 1.275
Daily Pivot Point S1: 1.2699
Daily Pivot Point S2: 1.2632
Daily Pivot Point S3: 1.2565
Daily Pivot Point R1: 1.2832
Daily Pivot Point R2: 1.2899
Daily Pivot Point R3: 1.2966