GBP/USD Technical Analysis: Indecision at 9-month-long falling trendline
The GBP/USD pair is struggling to cross the 9-month-long falling trendline for the third day straight, having charted a big doji candle at that diagonal line yesterday.
Daily chart
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- As seen above, the trendline connecting the April and November highs is proving to be a tough but to crack.
- Also, the long-legged doji candle has established 1.2668 as strong support. A close below that would imply an end of the corrective bounce from the December low of 1.2476.
- A daily close above 1.2916 (Doji candle high) will signal a continuation of the rally from 1.2476. That would also mark an upside break of the falling trendline and open the doors to 1.3072 (Nov. 14 high).
Trend: Neutral. bearish below 1.2668
GBP/USD
Overview:
Today Last Price: 1.2827
Today Daily change: -57 pips
Today Daily change %: -0.442%
Today Daily Open: 1.2884
Trends:
Previous Daily SMA20: 1.2721
Previous Daily SMA50: 1.2759
Previous Daily SMA100: 1.2894
Previous Daily SMA200: 1.3112
Levels:
Previous Daily High: 1.2917
Previous Daily Low: 1.2668
Previous Weekly High: 1.2866
Previous Weekly Low: 1.2704
Previous Monthly High: 1.284
Previous Monthly Low: 1.2477
Previous Daily Fibonacci 38.2%: 1.2822
Previous Daily Fibonacci 61.8%: 1.2763
Previous Daily Pivot Point S1: 1.2729
Previous Daily Pivot Point S2: 1.2574
Previous Daily Pivot Point S3: 1.248
Previous Daily Pivot Point R1: 1.2978
Previous Daily Pivot Point R2: 1.3072
Previous Daily Pivot Point R3: 1.3227