GBPUSD Price Analysis: Above 21-day SMA amid bullish MACD

GBPUSD Price Analysis: Above 21-day SMA amid bullish MACD

  • GBP/USD registers five-day winning streak, probes 50% Fibonacci retracement.
  • A clear break of 21-day SMA, bullish MACD favor buyers.
  • 200-day SMA, 61.8% Fibonacci retracement on the bulls’ radars.

While extending its run-up beyond 21-day SMA, GBP/USD takes the bids to 1.2460 amid Monday’s Asian session. In doing so, the quote confronts 50% Fibonacci retracement of its declines from December 12, 2019, amid bullish MACD.

Although a clear break of 1.2470 mark comprising 50% Fibonacci retracement becomes necessary for the buyers to justify their strength, major attention is given to the 200-day SMA level of 1.2670 during the further upside.

Additionally, 61.8% Fibonacci retracement level of 1.2715 will also act as an additional challenge to the buyers.

Meanwhile, a daily closing below 21-day SMA level of 1.2355 could drag the quote to a 38.2% Fibonacci retracement level of 1.2217 ahead of highlighting 1.2000 mark for the sellers.

GBP/USD daily chart

Trend: Further recovery expected

additional important levels

Overview
Today last price 1.2458
Today Daily Change 4 pips
Today Daily Change % 0.03%
Today daily open 1.2454

 

Trends
Daily SMA20 1.2351
Daily SMA50 1.2737
Daily SMA100 1.2886
Daily SMA200 1.267

 

Levels
Previous Daily High 1.2486
Previous Daily Low 1.2133
Previous Weekly High 1.2486
Previous Weekly Low 1.1447
Previous Monthly High 1.3204
Previous Monthly Low 1.2726
Daily Fibonacci 38.2% 1.2351
Daily Fibonacci 61.8% 1.2268
Daily Pivot Point S1 1.2229
Daily Pivot Point S2 1.2005
Daily Pivot Point S3 1.1876
Daily Pivot Point R1 1.2582
Daily Pivot Point R2 1.271
Daily Pivot Point R3 1.2935

 

 

 


Source: FxStreet

 

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