GBP/USD Technical Analysis: Returning to the mean as buyers step away

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  • The Cable is facing continued downside pressure as the Sterling continues to slip from near-term highs.
  • GBP/USD Forecast: Attempts to defend 50/100-DMA confluence support ahead of UK macro data

GBP/USD M5


	GBP/USD Technical Analysis: Returning to the mean as buyers step away

  • Hourly candles see the GBP/USD geared for a test of the 200-hour moving average from 1.2970, with intraday resistance from the 50-hour moving average at 1.3090, constraining the Cable's ability to make a run in either direction for Friday.

GBP/USD H1


	GBP/USD Technical Analysis: Returning to the mean as buyers step away

  • Looking further out, the Cable has gone cyclical, whipping between highs and lows in a zone between 1.3300 and 1.2690.

GBP/USD H4


	GBP/USD Technical Analysis: Returning to the mean as buyers step away

GBP/USD

Overview:
    Last Price: 1.3042
    Daily change: -19 pips
    Daily change: -0.145%
    Daily Open: 1.3061
Trends:
    Daily SMA20: 1.2987
    Daily SMA50: 1.3032
    Daily SMA100: 1.3037
    Daily SMA200: 1.3409
Levels:
    Daily High: 1.3152
    Daily Low: 1.3045
    Weekly High: 1.3042
    Weekly Low: 1.2696
    Monthly High: 1.326
    Monthly Low: 1.2696
    Daily Fibonacci 38.2%: 1.3086
    Daily Fibonacci 61.8%: 1.3111
    Daily Pivot Point S1: 1.302
    Daily Pivot Point S2: 1.2979
    Daily Pivot Point S3: 1.2914
    Daily Pivot Point R1: 1.3127
    Daily Pivot Point R2: 1.3192
    Daily Pivot Point R3: 1.3233

GBP/USD

Overview:
    Last Price: 1.3044
    Daily change: -17 pips
    Daily change: -0.130%
    Daily Open: 1.3061
Trends:
    Daily SMA20: 1.2987
    Daily SMA50: 1.3032
    Daily SMA100: 1.3037
    Daily SMA200: 1.3409
Levels:
    Daily High: 1.3152
    Daily Low: 1.3045
    Weekly High: 1.3042
    Weekly Low: 1.2696
    Monthly High: 1.326
    Monthly Low: 1.2696
    Daily Fibonacci 38.2%: 1.3086
    Daily Fibonacci 61.8%: 1.3111
    Daily Pivot Point S1: 1.302
    Daily Pivot Point S2: 1.2979
    Daily Pivot Point S3: 1.2914
    Daily Pivot Point R1: 1.3127
    Daily Pivot Point R2: 1.3192
    Daily Pivot Point R3: 1.3233

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