GBP/USD Technical Analysis: Defend 200-hour SMA/1.2700 mark post-UK macro data

11 Jan 2019

   •  The pair remained under some selling pressure for the second consecutive session, albeit managed to hold its neck above 200-hour SMA and the 1.2700 handle post-UK macro data dump.

   •  Given the recent failures to sustain/build on the momentum beyond the 1.2800 handle, a subsequent fall below the mentioned support should pave the way for a further near-term downfall. 

   •  Meanwhile, technical indicators on hourly charts have drifted into the negative territory and have also been losing positive momentum on the daily chart, adding credence to the bearish bias.

   •  Hence, a follow-through weakness towards 1.2655-50 intermediate zone en-route the 1.2610-1.2600 region, led by some fresh technical selling below the 1.2700 mark, looks a distinct possibility.

GBP/USD 1-hourly chart


    Today Last Price: 1.2725
    Today Daily change: -21 pips
    Today Daily change %: -0.165%
    Today Daily Open: 1.2746
    Previous Daily SMA20: 1.2682
    Previous Daily SMA50: 1.2769
    Previous Daily SMA100: 1.2894
    Previous Daily SMA200: 1.313
    Previous Daily High: 1.2805
    Previous Daily Low: 1.2728
    Previous Weekly High: 1.2815
    Previous Weekly Low: 1.2438
    Previous Monthly High: 1.284
    Previous Monthly Low: 1.2477
    Previous Daily Fibonacci 38.2%: 1.2757
    Previous Daily Fibonacci 61.8%: 1.2776
    Previous Daily Pivot Point S1: 1.2714
    Previous Daily Pivot Point S2: 1.2682
    Previous Daily Pivot Point S3: 1.2637
    Previous Daily Pivot Point R1: 1.2791
    Previous Daily Pivot Point R2: 1.2837
    Previous Daily Pivot Point R3: 1.2869


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