GBP/USD Technical Analysis: 5-day MA is key resistance
GBP/USD is currently trading at 1.2365 - just short of the downward sloping (bearish) 5-day moving average (MA) at 1.2940, which proved a tough nut to crack in the previous two trading days.
Daily chart
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As seen above, the 5- and 10-day MAs are trending south, having produced a bearish crossover on Feb. 4. That bearish view would gain credence if the 5-day MA again reverses gains, leading to a deeper drop to 1.2842 (50-day MA).
A close above the 10-day MA would invalidate the bearish setup.
Trend: Bearish
GBP/USD
Overview:
Today Last Price: 1.2936
Today Daily change: 1 pip
Today Daily change %: 0.01%
Today Daily Open: 1.2935
Trends:
Daily SMA20: 1.3002
Daily SMA50: 1.2812
Daily SMA100: 1.2891
Daily SMA200: 1.3024
Levels:
Previous Daily High: 1.2976
Previous Daily Low: 1.2921
Previous Weekly High: 1.3103
Previous Weekly Low: 1.2854
Previous Monthly High: 1.3214
Previous Monthly Low: 1.2438
Daily Fibonacci 38.2%: 1.2942
Daily Fibonacci 61.8%: 1.2955
Daily Pivot Point S1: 1.2912
Daily Pivot Point S2: 1.2889
Daily Pivot Point S3: 1.2856
Daily Pivot Point R1: 1.2967
Daily Pivot Point R2: 1.3
Daily Pivot Point R3: 1.3023