GBP/USD Technical Analysis: Strangling near 1.2700

  • GBP/USD continues to cycle around intraday inflection levels, currently digging in near 1.2700 after failing to jumpstart moves in either direction on Wednesday.

GBP/USD, 5-Minute

  • The past two weeks have seen the Cable moving in a sluggish downtrend, marked by consolidation periods separated by rough chop, but the pair continues to see downside movement from the 200-period MA.

GBP/USD, 30-Minute

  • 4-hour candlesticks have the Cable setting up for a bearish break of previous support just below the 1.2700 handle, and short-sellers will be looking to time a break-and-retest of the significant level with Tuesday’s upcoming Brexit vote to push the GBP/USD pairing into a faster downtrend.

GBP/USD, 4-Hour

GBP/USD

Overview:
    Today Last Price: 1.2711
    Today Daily change: -20 pips
    Today Daily change %: -0.157%
    Today Daily Open: 1.2731
Trends:
    Previous Daily SMA20: 1.2831
    Previous Daily SMA50: 1.2944
    Previous Daily SMA100: 1.2964
    Previous Daily SMA200: 1.3298
Levels:
    Previous Daily High: 1.2798
    Previous Daily Low: 1.2672
    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%: 1.275
    Previous Daily Fibonacci 61.8%: 1.272
    Previous Daily Pivot Point S1: 1.2669
    Previous Daily Pivot Point S2: 1.2608
    Previous Daily Pivot Point S3: 1.2543
    Previous Daily Pivot Point R1: 1.2796
    Previous Daily Pivot Point R2: 1.286
    Previous Daily Pivot Point R3: 1.2922