GBP/USD Technical Analysis: Bearish close confirmed, deeper drop likely
On Thursday, GBP/USD closed below 1.3098 – the low of the long-tailed doji created on March 5 – signaling a continuation of the sell-off from the Feb. 27 high of 1.3350.
The 5- and 10-day moving averages (MAs) have also produced a bearish crossover. As a result, bounce, if any, could be short-lived and the pair could drop toward the psychological hurdle of 1.30 in the short-term.
Daily chart
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Trend: Bearish
GBP/USD
Overview:
Today Last Price: 1.3093
Today Daily change: 19 pips
Today Daily change %: 0.15%
Today Daily Open: 1.3074
Trends:
Daily SMA20: 1.3055
Daily SMA50: 1.2965
Daily SMA100: 1.2883
Daily SMA200: 1.2988
Levels:
Previous Daily High: 1.3187
Previous Daily Low: 1.3068
Previous Weekly High: 1.3351
Previous Weekly Low: 1.3051
Previous Monthly High: 1.3351
Previous Monthly Low: 1.2773
Daily Fibonacci 38.2%: 1.3113
Daily Fibonacci 61.8%: 1.3141
Daily Pivot Point S1: 1.3032
Daily Pivot Point S2: 1.2991
Daily Pivot Point S3: 1.2914
Daily Pivot Point R1: 1.3151
Daily Pivot Point R2: 1.3228
Daily Pivot Point R3: 1.3269