In early trading on Wednesday, the Pound Sterling resumed its downtrend against the US Dollar, as the Greenback remained the strongest currency against other peers. Despite printing losses, Cable remains at familiar levels, ahead of the Bank of England (BoE) monetary policy decision. The GBP/USD trades at 1.2483, down 0.20%.
The GBP/USD is biased downward, though it failed to crack a support trendline at around the day’s low of 1.2467, which could have opened the door for further losses. Despite the bounce, momentum is still favoring sellers, with the Relative Strength Index (RSI) standing at bearish territory, with its slope aiming down.
In the event of GBP/USD clearing the 1.2500 psychological level, the next resistance would be the 200-day moving average (DMA) at 1.2543. Once cleared, the next stop would be intermediate resistance at the May 6 high at 1.294, followed by the latest cycle high seen at 1.2634, the May 3 high.
Overview | |
---|---|
Today last price | 1.2492 |
Today Daily Change | -0.0017 |
Today Daily Change % | -0.14 |
Today daily open | 1.2509 |
Trends | |
---|---|
Daily SMA20 | 1.2484 |
Daily SMA50 | 1.2607 |
Daily SMA100 | 1.2642 |
Daily SMA200 | 1.2546 |
Levels | |
---|---|
Previous Daily High | 1.2568 |
Previous Daily Low | 1.2501 |
Previous Weekly High | 1.2635 |
Previous Weekly Low | 1.2466 |
Previous Monthly High | 1.2709 |
Previous Monthly Low | 1.23 |
Daily Fibonacci 38.2% | 1.2526 |
Daily Fibonacci 61.8% | 1.2542 |
Daily Pivot Point S1 | 1.2484 |
Daily Pivot Point S2 | 1.2459 |
Daily Pivot Point S3 | 1.2417 |
Daily Pivot Point R1 | 1.2551 |
Daily Pivot Point R2 | 1.2593 |
Daily Pivot Point R3 | 1.2618 |
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