GBP/USD Technical Analysis: Cable bulls taking a well-deserved breather after 350-pip bull-run as NFP boosts USD
- GBP/USD is trading in a bear trend below the 200-period simple moving average on the 4-hour chart.
- GBP/USD is retreating below the 1.3000 figure after the Nonfarm Payrolls in the US showed 250K vs. 190K forecast in October.
- GBP/USD enjoyed a 350-pip bull run in the last two days and is now consolidating the gains. A pullback to 1.2947 might be on the cards as the 200 SMA is capping and the RSI and Stochastic indicators are in overbought condition.
GBP/USD 4-hour chart
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Main trend: Bearish
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: 1.2997
Daily change: -8.0 pips
Daily change: -0.0615%
Daily Open: 1.3005
Trends:
Daily SMA20: 1.3011
Daily SMA50: 1.3019
Daily SMA100: 1.3045
Daily SMA200: 1.3436
Levels:
Daily High: 1.3036
Daily Low: 1.2762
Weekly High: 1.3092
Weekly Low: 1.2777
Monthly High: 1.326
Monthly Low: 1.2696
Daily Fibonacci 38.2%: 1.2932
Daily Fibonacci 61.8%: 1.2867
Daily Pivot Point S1: 1.2833
Daily Pivot Point S2: 1.266
Daily Pivot Point S3: 1.2558
Daily Pivot Point R1: 1.3107
Daily Pivot Point R2: 1.3209
Daily Pivot Point R3: 1.3382