GBP/USD fell on Monday, tumbling a little over one percent and pushing the pair back down below the 1.3200 handle after a broad-based recovery in Greenback bidding.
GBP/USD was last seen trading near 1.3160, where the 200-period Simple Moving Average (SMA) meets the Fibonacci 38.2% retracement level of the latest uptrend. In case the pair drops below this level and starts using it as resistance, technical sellers could remain interested. In this scenario, 1.3100 (50-day SMA) could be seen as next support ahead of 1.3070 (Fibonacci 50% retracement) and 1.3000-1.2990 (round level, Fibonacci 61.8% retracement).
GBP/USD was last seen trading near 1.3160, where the 200-period Simple Moving Average (SMA) meets the Fibonacci 38.2% retracement level of the latest uptrend. In case the pair drops below this level and starts using it as resistance, technical sellers could remain interested. In this scenario, 1.3100 (50-day SMA) could be seen as next support ahead of 1.3070 (Fibonacci 50% retracement) and 1.3000-1.2990 (round level, Fibonacci 61.8% retracement).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.