Cable bulls erase two weeks of losses in two days as the market hits 1.3000 figure


  • GBP/USD is having a sharp bounce up reversing nearly two weeks of losses in the last two days. 
  • GBP/USD bulls want to keep the market above the 1.3000 figure and break above the 200-period simple moving average as the market is set to grind higher in the coming sessions.
  • Targets to the upside are likely located near 1.3043 (October 23 high) and 1.3100 figure. 

GBP/USD 4-hour chart

Main trend:                      Bearish 
Short-term trend:             Bullish

Resistance 1:                  1.3000 figure
Resistance 2:                  1.3043, October 23 high
Resistance 3:                  1.3100 figure

Support 1:                      1.2947 key resistance
Support 2:                      1.2921 October 4 low
Support 3:                      1.2900 figure
Support 4:                      1.2854 October 29
Support 5:                      1.2800 figure

 

Additional key levels at a glance:

GBP/USD

Overview:
    Last Price: 1.301
    Daily change: 2.4e+2 pips
    Daily change: 1.91%
    Daily Open: 1.2766
Trends:
    Daily SMA20: 1.3012
    Daily SMA50: 1.3015
    Daily SMA100: 1.3048
    Daily SMA200: 1.3441
Levels:
    Daily High: 1.2832
    Daily Low: 1.2699
    Weekly High: 1.3092
    Weekly Low: 1.2777
    Monthly High: 1.326
    Monthly Low: 1.2696
    Daily Fibonacci 38.2%: 1.2781
    Daily Fibonacci 61.8%: 1.275
    Daily Pivot Point S1: 1.2699
    Daily Pivot Point S2: 1.2632
    Daily Pivot Point S3: 1.2565
    Daily Pivot Point R1: 1.2832
    Daily Pivot Point R2: 1.2899
    Daily Pivot Point R3: 1.2966

 



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