FOREX

GBP/USD Technical Analysis: 1.31 the level for bulls to beat

Cable is constrained by the 1.31 technical handle in early consolidation as traders look for a breakout.
A rising trendline from near-term lows coincides with a rising 200-hour EMA from 1.3070 providing support, while resistance sits at the week’s peak of 1.3130.
Medium-term, the US Dollar remains well-bid, and Sterling bulls should use caution when buying against the crowd, especially as Brexit headlines threaten to shake out Cable bids once more.
GBP/USD Chart, 15-Minute

GBP/USD

Overview:
Last Price: 1.31
Daily change: 10 pips
Daily change: 0.0764%
Daily Open: 1.309
Trends:
Daily SMA20: 1.3091
Daily SMA50: 1.2972
Daily SMA100: 1.3108
Daily SMA200: 1.3498
Levels:
Daily High: 1.3134
Daily Low: 1.3028
Weekly High: 1.3123
Weekly Low: 1.2922
Monthly High: 1.33
Monthly Low: 1.2897
Daily Fibonacci 38.2%: 1.3069
Daily Fibonacci 61.8%: 1.3094
Daily Pivot Point S1: 1.3034
Daily Pivot Point S2: 1.2978
Daily Pivot Point S3: 1.2927
Daily Pivot Point R1: 1.314
Daily Pivot Point R2: 1.319
Daily Pivot Point R3: 1.3246

 

GBP/USD
-0.00116 (-0.09%)
1.30 77 7 / 78 6
Open 1.3092 High 1.3107 Low 1.3073

TREND INDEX
Bullish
OB/OS INDEX
Neutral
VOLATILITY INDEX
High
Updated at Oct 09, 06:45 GMT
FORECAST BIAS
Bullish
KEY LEVELS
R3 1.3246
R2 1.3190
R1 1.3140
PP 1.3084
S1 1.3034
S2 1.2978
S3 1.2927