The Pound Sterling registers anemic losses against the US Dollar as traders brace for the Bank of England’s (BoE) monetary policy decision on Thursday. The pair remained within the 1.2529-1.2594 boundaries during the last few days, capped by key support and resistance levels. The GBP/USD trades at 1.2556, down 0.04%.
The daily chart portrays the pair as neutral-biased, with momentum skewed to the upside, as depicted by the Relative Strength Index (RSI). The RSI is bullish, though close to the 50-midline, an indication that volatile price action could trigger a momentum shift.
With that said the first resistance of the GBP/USD would be the May 6 high at 1.2594. Once cleared, that could pave the way to test 1.2600, ahead of the 50-day moving average (DMA) at 1.2607. Further upside is seen at the 100-DMA at 1.2640, followed by the April 9 high at 1.2709.
On the other hand, if the GBP/USD dips below the 200-DMA at 1.2545, that would exacerbate a test of 1.2500. Once hurdled, the next support emerged at the May 1 low of 1.2466, followed by the 1.2400 figure.
Overview | |
---|---|
Today last price | 1.2552 |
Today Daily Change | -0.0010 |
Today Daily Change % | -0.08 |
Today daily open | 1.2562 |
Trends | |
---|---|
Daily SMA20 | 1.2493 |
Daily SMA50 | 1.2611 |
Daily SMA100 | 1.2644 |
Daily SMA200 | 1.2547 |
Levels | |
---|---|
Previous Daily High | 1.2594 |
Previous Daily Low | 1.2538 |
Previous Weekly High | 1.2635 |
Previous Weekly Low | 1.2466 |
Previous Monthly High | 1.2709 |
Previous Monthly Low | 1.23 |
Daily Fibonacci 38.2% | 1.2573 |
Daily Fibonacci 61.8% | 1.256 |
Daily Pivot Point S1 | 1.2536 |
Daily Pivot Point S2 | 1.2509 |
Daily Pivot Point S3 | 1.248 |
Daily Pivot Point R1 | 1.2592 |
Daily Pivot Point R2 | 1.2621 |
Daily Pivot Point R3 | 1.2648 |
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