GBP/USD Technical Analysis: Bulls await a convincing break through 200-day SMA
• The cross reversed an early dip to sub-147.00 level and is now looking to build on its recent recovery move further beyond the very important 200-day SMA.
• Mixed technical indicators on the daily chart are yet to catch up with last week's strong rebound from over seven-week lows and seemed to be only factor capping gains.
• Hence, it would be prudent to wait for a strong follow-through buying beyond the mentioned barrier before positioning for any further near-term appreciating move.
• A convincing breakthrough is likely to prompt some aggressive short-covering move and lift the cross further beyond the 149.00 handle, towards Sept./Oct. swing highs.
GBP/JPY daily chart
-636770102186531067.png)
GBP/JPY
Overview:
Last Price: 147.32
Daily change: 58 pips
Daily change: 0.395%
Daily Open: 146.74
Trends:
Daily SMA20: 146.33
Daily SMA50: 146.29
Daily SMA100: 145.67
Daily SMA200: 147.54
Levels:
Daily High: 147.26
Daily Low: 146.29
Weekly High: 147.26
Weekly Low: 143.22
Monthly High: 149.52
Monthly Low: 142.78
Daily Fibonacci 38.2%: 146.89
Daily Fibonacci 61.8%: 146.66
Daily Pivot Point S1: 146.26
Daily Pivot Point S2: 145.79
Daily Pivot Point S3: 145.29
Daily Pivot Point R1: 147.24
Daily Pivot Point R2: 147.74
Daily Pivot Point R3: 148.21