GBP/USD Technical Forecast for Trading
Brexit negotiations may give a new direction to The GBP/USD movement.
A combination of technical indicators shows that GBP/USD is trading around the support and resistant levels near to 1.2850. These contain the Simple Moving Average 100-15m, the Fibonacci 38.2% one-month, the SMA 100-4h, the 4h-low and the Fibonacci 61.8% one-day.
Resistance Levels: In case GBP/USD take a bounce, It may face these levels as strong resistance, 1.2920 One-day pivot point resistance, Fibonacci 161.8% one-day, and the Fibonacci 61.8% one-week.
Support Levels: Looking down, markup support is around 1.2787 which is the convergence of the PP one-day Support 2, and the Fibonacci 23.6% one-month. The next support junction is only around 1.2700 where we see the Fibonacci 161.8% one-week and the Pivot Point one-month
This is how it looks on the tool: