GBP/USD Technical Analysis: Cable decimated by bears melting towards the 2018 low
- GBP/USD is trading in a bear trend below the 200-period simple moving average on the 4-hour chart.
- GBP/USD bears gave no respite to Cable which is dropping to 1.2700 figure now only a handful of pips away from the 2018 low at 1.2660. GBP/USD might consolidate some losses but remain fragile for another potential for to 1.2660.
- Near-term supports can be seen near 1.2700 figure while resistances can be located near 1.2750 and 1.2800 figure.
GBP/USD 4-hour chart
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Main trend: Bearish
Resistance 1: 1.2750 figure
Resistance 2: 1.2800 figure
Resistance 3: 1.2854 October 29
Resistance 4: 1.2900 figure
Resistance 5: 1.2921 October 4 low
Support 1: 1.2700 figure
Support 2: 1.2660 August low (2018 low)
Support 3: 1.2589 June 21, 2017
Additional key levels at a glance:
GBP/USD
Overview:
Last Price: 1.271
Daily change: -83 pips
Daily change: -0.649%
Daily Open: 1.2793
Trends:
Daily SMA20: 1.3034
Daily SMA50: 1.3022
Daily SMA100: 1.306
Daily SMA200: 1.3453
Levels:
Daily High: 1.2854
Daily Low: 1.2792
Weekly High: 1.3092
Weekly Low: 1.2777
Monthly High: 1.33
Monthly Low: 1.2786
Daily Fibonacci 38.2%: 1.2816
Daily Fibonacci 61.8%: 1.2831
Daily Pivot Point S1: 1.2772
Daily Pivot Point S2: 1.2751
Daily Pivot Point S3: 1.2709
Daily Pivot Point R1: 1.2834
Daily Pivot Point R2: 1.2876
Daily Pivot Point R3: 1.2897