17 Oct 2018
GBP/USD Technical Analysis: Cable coiled below 1.3200 ahead of Brussels leadership meeting, Brexit at the forefront
- The Sterling is getting constrained ahead of Wednesday's major leadership meeting in Brussels, and last week's hopes of forward momentum on Brexit talks have stalled hard.
- 1.3170 has remained a popular level for the Cable for the past six consecutive trading days as bullish hopefuls continue to run into the wall of reality, and rising odds of a hard Brexit are currently being pushed aside.
- The 200-hour moving average is proving critical support on the intraday scale, and a break could see the GBP/USD falling back to recognizable Brexit-fear levels around the 1.3000 handle.
GBP/USD Chart, 1-Hour
GBP/USD
Overview:
Last Price: 1.3168
Daily change: -15 pips
Daily change: -0.114%
Daily Open: 1.3183
Trends:
Daily SMA20: 1.3116
Daily SMA50: 1.2991
Daily SMA100: 1.3098
Daily SMA200: 1.3487
Levels:
Daily High: 1.3238
Daily Low: 1.3141
Weekly High: 1.326
Weekly Low: 1.3028
Monthly High: 1.33
Monthly Low: 1.2922
Daily Fibonacci 38.2%: 1.3201
Daily Fibonacci 61.8%: 1.3178
Daily Pivot Point S1: 1.3136
Daily Pivot Point S2: 1.309
Daily Pivot Point S3: 1.304
Daily Pivot Point R1: 1.3233
Daily Pivot Point R2: 1.3284
Daily Pivot Point R3: 1.333