• The pair reversed an early dip to a session low level of 1.2772 and attempted a fresh move beyond the 1.2800 handle, albeit struggled to make it through 100-period SMA.
• Despite renewed USD selling bias, further aggravated by today's disappointing US macro data, Brexit uncertainties seemed to keep a lid on any meaningful up-move.
• Meanwhile, neutral technical indicators on the 1-hourly chart have also failed to provide any firm intraday directional bias and led to a subdued/range-bound price action.
• However, momentum oscillators on 4-hourly/daily charts point to prevailing selling bias and support prospects for an extension of the pair's near-term bearish trajectory.
• Hence, any meaningful up-move beyond 100-hour SMA seems more likely to quickly run out of steam and meet with some aggressive supply at higher levels.
GBP/USD 1-hourly chart
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GBP/USD
Overview:
Last Price: 1.2804
Daily change: 19 pips
Daily change: 0.149%
Daily Open: 1.2785
Trends:
Daily SMA20: 1.2907
Daily SMA50: 1.3023
Daily SMA100: 1.3012
Daily SMA200: 1.3364
Levels:
Daily High: 1.2884
Daily Low: 1.2776
Weekly High: 1.3074
Weekly Low: 1.2724
Monthly High: 1.326
Monthly Low: 1.2696
Daily Fibonacci 38.2%: 1.2817
Daily Fibonacci 61.8%: 1.2843
Daily Pivot Point S1: 1.2747
Daily Pivot Point S2: 1.2708
Daily Pivot Point S3: 1.2639
Daily Pivot Point R1: 1.2854
Daily Pivot Point R2: 1.2922
Daily Pivot Point R3: 1.2961
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