GBP/USD Price Analysis: Retreats from the daily highs, steadily around 1.2080 – by christianborjon GBPUSD Majors Technical Analysis SupportResistance PivotPoints
e last four days. However, the British pound retreated under 1.2100 but remained above the opening price, recording gains of 0.12%. At the time of writing, the GBP/USD is trading at 1.2081.The GBP/USD daily chart illustrates the major as neutral-to-downward biased. Further confirmation of the previously mentioned is that sellers are gathering momentum, as shown by the Relative Strength Index , aiming lower, residing below the 50-midline.
Hence, the GBP/USD 4-hour chart is still neutral-to-downward biased. Therefore, the GBP/USD first support would be the confluence of the 100 and 200-EMA around 1.2065-68. The break below will send the pair tumbling towards the S1 pivot at 1.1990, followed by the S2 at 1.1910.
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