• The pair reversed an early dip back closer to YTD lows and spiked back above the 1.2700 handle, albeit faltered ahead of an important confluence resistance post-UK services PMI.
• The mentioned hurdle, comprising of 100-hour EMA and 50% Fibonacci retracement level of the overnight slump, remains a key pivotal point for intraday bullish traders.
• Technical indicators on the 1-hourly chart have just started recovering from negative territory but maintained their bearish bias on 4-hourly/daily charts, indicating more downside.
• Hence, it would be prudent to wait for a convincing breakthrough the mentioned barrier before positioning for any meaningful intraday up-move amid persistent Brexit uncertainties.
GBP/USD 1-hourly chart
Today Last Price: 1.2736
Today Daily change: 25 pips
Today Daily change %: 0.197%
Today Daily Open: 1.2711
Previous Daily SMA20: 1.2852
Previous Daily SMA50: 1.2952
Previous Daily SMA100: 1.2968
Previous Daily SMA200: 1.3304
Previous Daily High: 1.284
Previous Daily Low: 1.2659
Previous Weekly High: 1.2864
Previous Weekly Low: 1.2725
Previous Monthly High: 1.3176
Previous Monthly Low: 1.2723
Previous Daily Fibonacci 38.2%: 1.2728
Previous Daily Fibonacci 61.8%: 1.2771
Previous Daily Pivot Point S1: 1.2633
Previous Daily Pivot Point S2: 1.2555
Previous Daily Pivot Point S3: 1.2452
Previous Daily Pivot Point R1: 1.2815
Previous Daily Pivot Point R2: 1.2918
Previous Daily Pivot Point R3: 1.2996