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16 Jan 2019

GBP/USD Technical Analysis: Indecision at 9-month-long falling trendline

The GBP/USD pair is struggling to cross the 9-month-long falling trendline for the third day straight, having charted a big doji candle at that diagonal line yesterday.

Daily chart

  • As seen above, the trendline connecting the April and November highs is proving to be a tough but to crack.
  • Also, the long-legged doji candle has established 1.2668 as strong support. A close below that would imply an end of the corrective bounce from the December low of 1.2476.
  • A daily close above 1.2916 (Doji candle high) will signal a continuation of the rally from 1.2476. That would also mark an upside break of the falling trendline and open the doors to 1.3072 (Nov. 14 high).

Trend: Neutral. bearish below 1.2668

GBP/USD

Overview:
    Today Last Price: 1.2827
    Today Daily change: -57 pips
    Today Daily change %: -0.442%
    Today Daily Open: 1.2884
Trends:
    Previous Daily SMA20: 1.2721
    Previous Daily SMA50: 1.2759
    Previous Daily SMA100: 1.2894
    Previous Daily SMA200: 1.3112
Levels:
    Previous Daily High: 1.2917
    Previous Daily Low: 1.2668
    Previous Weekly High: 1.2866
    Previous Weekly Low: 1.2704
    Previous Monthly High: 1.284
    Previous Monthly Low: 1.2477
    Previous Daily Fibonacci 38.2%: 1.2822
    Previous Daily Fibonacci 61.8%: 1.2763
    Previous Daily Pivot Point S1: 1.2729
    Previous Daily Pivot Point S2: 1.2574
    Previous Daily Pivot Point S3: 1.248
    Previous Daily Pivot Point R1: 1.2978
    Previous Daily Pivot Point R2: 1.3072
    Previous Daily Pivot Point R3: 1.3227

 

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