GBP/USD Technicals

GBP/USD Technical Overview


With absence of economic data on both Sterling and U.S Dollar, the pair should trade technically.

Trend: Bearish /Sideways (H1)

Pivot: 1.2835

Preferable scenario: Short positions below pivot 1.2835 holds further dips seeing 1.2787 (S1), in case of penetration next station should be 1.2740 (S2), then (S3) at 1.2700. (H1 supports)

The alternative case, if GBP/USD stayed above pivot 1.2835, expectations for further attacks at (R1) 1.2882 first. If (R1) failed, potentials for additional hikes seeing (R2) at 1.2925, next (R3) 1.2960. (H1 Resistances)

Comment: keep an eye on U.S Index levels, he upward potential is likely to be limited by the resistance at 1.2840.

MACD indicates bearish momentum (H1).

RSI indicates bearish momentum (H1).

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