GBP/USD Technical Analysis: Seems vulnerable to break 1.2700 handle and retest YTD lows
• The pair, on several occasions over the past two weeks, had failed to sustain/build on its momentum beyond 200-hour SMA, indicating persistent selling bias at higher levels.
• Moreover, technical indicators on 4-hourly/daily charts have retained their bearish bias and thus, increase prospects for an extension of the near-term downward trajectory.
• However, oscillators on the 1-hourly chart are pointing to slightly oversold conditions and warrant some consolidation before the next leg of a bearish slide to YTD lows.
GBP/USD 1-hourly chart
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GBP/USD
Overview:
Today Last Price: 1.2757
Today Daily change: -56 pips
Today Daily change %: -0.437%
Today Daily Open: 1.2813
Trends:
Previous Daily SMA20: 1.2905
Previous Daily SMA50: 1.3
Previous Daily SMA100: 1.2995
Previous Daily SMA200: 1.3341
Levels:
Previous Daily High: 1.2866
Previous Daily Low: 1.2796
Previous Weekly High: 1.2928
Previous Weekly Low: 1.2764
Previous Monthly High: 1.326
Previous Monthly Low: 1.2696
Previous Daily Fibonacci 38.2%: 1.2822
Previous Daily Fibonacci 61.8%: 1.2839
Previous Daily Pivot Point S1: 1.2784
Previous Daily Pivot Point S2: 1.2755
Previous Daily Pivot Point S3: 1.2714
Previous Daily Pivot Point R1: 1.2854
Previous Daily Pivot Point R2: 1.2894
Previous Daily Pivot Point R3: 1.2923