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GBP/USD technical analysis: Choppy between 50-day EMA and 50% Fibo.

Written By Anil Panchal | 2019-09-12 02:00:13 GMT
  • Despite repeated failures to cross 50% Fibonacci retracement level, GBP/USD stays above 50-day EMA.
  • Bullish MACD raises the case for pair’s advances to 1.2470/72 resistance-confluence after the breakout.

GBP/USD clings to 1.2330 while heading into Thursday’s UK session open.

The pair seems to be chopped between the 50-day exponential moving average (EMA) level of 1.2313 and 50% Fibonacci retracement of June to September month declines, at 1.2372.

It should, however, be noted that 12-day moving average convergence and divergence (MACD) indicator remains bullish and hence buyers will look for entry beyond 1.2372 while targeting July 23 low of 1.2418.

However, 100-day EMA and 61.8% Fibonacci retracement around 1.2470/72 could question bulls past-1.2418, if not then 1.2500 will become their favorites.

Alternatively, pair’s declines below 1.2313 can take aim for early-August tops surrounding 1.2210 whereas 23.6% Fibonacci retracement level of 1.2152 might restrict additional weakness.

GBP/USD daily chart

Trend: sideways

additional important levels

Overview
Today last price 1.233
Today Daily Change 0.0000
Today Daily Change % 0.00%
Today daily open 1.233
 
Trends
Daily SMA20 1.2215
Daily SMA50 1.2285
Daily SMA100 1.2527
Daily SMA200 1.2745
Levels
Previous Daily High 1.2372
Previous Daily Low 1.2312
Previous Weekly High 1.2354
Previous Weekly Low 1.1958
Previous Monthly High 1.231
Previous Monthly Low 1.2015
Daily Fibonacci 38.2% 1.2335
Daily Fibonacci 61.8% 1.2349
Daily Pivot Point S1 1.2304
Daily Pivot Point S2 1.2278
Daily Pivot Point S3 1.2244
Daily Pivot Point R1 1.2364
Daily Pivot Point R2 1.2398
Daily Pivot Point R3 1.2424

 

 

Author

By Anil Panchal
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