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16 Nov 2018
GBP/USD Technical Analysis: 1.2800 unlikely to see much bullish momentum
- Intraday GBP/USD action sees the Cable sharply off of near-term highs with market flows getting driven purely by Brexit headlines.
- GBP/USD Forecast: UK political turmoil adds to Brexit uncertainties and should now cap any meaningful up-move
GBP/USD Chart, 5-Minute
- The past couple of weeks have seen the impact of Brexit wrangling on the GBP/USD, with the pair knocking to the downside of 1.2800, and bullish recovery attempts are quickly running into overbought near-term technical indicators.
GBP/USD Chart, 30-Minute
- The past two months shows the GBP/USD dipping into critical lows near late October's bottoms, and despite the technical leaning for a bullish recovery, a steady stream of Brexit headlines will make it difficult for intraday buyers to bid the Cable safely, and charts are showing safety in a medium-term bearish stance.
GBP/USD Chart, 4-Hour
GBP/USD
Overview:
Last Price: 1.2808
Daily change: 30 pips
Daily change: 0.235%
Daily Open: 1.2778
Trends:
Daily SMA20: 1.2934
Daily SMA50: 1.3033
Daily SMA100: 1.3023
Daily SMA200: 1.3379
Levels:
Daily High: 1.3032
Daily Low: 1.2724
Weekly High: 1.3176
Weekly Low: 1.2958
Monthly High: 1.326
Monthly Low: 1.2696
Daily Fibonacci 38.2%: 1.2841
Daily Fibonacci 61.8%: 1.2914
Daily Pivot Point S1: 1.2657
Daily Pivot Point S2: 1.2537
Daily Pivot Point S3: 1.235
Daily Pivot Point R1: 1.2965
Daily Pivot Point R2: 1.3152
Daily Pivot Point R3: 1.3273