GBP/USD Technical Analysis: Cable down en route to 1.3050 level post-FOMC statement

GBP/USD 4-hour chart Main trend:                      Bullish Short-term:                      Bearish Resistance 1:                  1.3100 figur  |  08/11/2018 19:44
  • GBP/USD is trading in a bull trend above the 200-period simple moving average on the 4-hour chart following the FOMC statement.
  • GBP/USD is having a sharp pullback down as the market pierced through the 1.3100 figure. The RSI, MACD and Stochastic indicators are negative suggesting further losses ahead in the coming sessions. 
  • Targets to the downside can be seen near 1.3043 (October 23 high) and 1.3000 figure. 
     

GBP/USD 4-hour chart

Main trend:                      Bullish
Short-term:                      Bearish

Resistance 1:                  1.3100 figure
Resistance 2:                  1.3150 figure
Resistance 3:                  1.3200 figure
Resistance 4:                  1.3259 October 12 high

Support 1:                      1.3043, October 23 high
Support 2:                      1.3000 figure
Support 3:                      1.2947 key resistance
Support 4:                      1.2921 October 4 low
Support 5:                      1.2900 figure
Support 6:                      1.2854 October 29

 
Additional key levels at a glance:

GBP/USD

Overview:
    Last Price: 1.307
    Daily change: -67 pips
    Daily change: -0.510%
    Daily Open: 1.3137
Trends:
    Daily SMA20: 1.2996
    Daily SMA50: 1.3031
    Daily SMA100: 1.3039
    Daily SMA200: 1.3414
Levels:
    Daily High: 1.3176
    Daily Low: 1.3074
    Weekly High: 1.3042
    Weekly Low: 1.2696
    Monthly High: 1.326
    Monthly Low: 1.2696
    Daily Fibonacci 38.2%: 1.3137
    Daily Fibonacci 61.8%: 1.3112
    Daily Pivot Point S1: 1.3082
    Daily Pivot Point S2: 1.3027
    Daily Pivot Point S3: 1.298
    Daily Pivot Point R1: 1.3184
    Daily Pivot Point R2: 1.3231
    Daily Pivot Point R3: 1.3286

 

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