•GBP/USD takes offers to refresh intraday low, fails to cheer monthly resistance break.
•Bearish MACD signals, pullback from 200-HMA keeps sellers hopeful.
GBP/USD refreshes intraday low near 1.3240, down 0.16% on a day ahead of Monday’s London open.
In doing so, the cable pair reverses the previous day’s break of a descending trend line from November-end, as well as the 200-HMA. Considering the bearish MACD signals adding strength to the seller’s hopes, the GBP/USD prices are likely to retest the previous resistance line, near 1.3220.
However, any further weakness will be challenged by the weekly support line near 1.3200 and the recently flashed yearly low of 1.3160.
Alternatively, an upside break of the 200-HMA level of 1.3256 should recall the GBP/USD buyers targeting the 1.3300.
However, the monthly top near 1.3350 and late November peak of 1.3370 can test the pair bulls afterward.
To sum up, the pair’s failures to extend the corrective pullback favor sellers to look for fresh yearly low.
GBP/USD: Hourly chart
Trend: Further weakness expected
Additional important levels
Overview
Today last price 1.324
Today Daily Change -0.0029
Today Daily Change % -0.22%
Today daily open 1.3269
Trends
Daily SMA20 1.3333
Daily SMA50 1.3518
Daily SMA100 1.3645
Daily SMA200 1.3785
Levels
Previous Daily High 1.3276
Previous Daily Low 1.3192
Previous Weekly High 1.3289
Previous Weekly Low 1.3161
Previous Monthly High 1.3698
Previous Monthly Low 1.3194
Daily Fibonacci 38.2% 1.3244
Daily Fibonacci 61.8% 1.3224
Daily Pivot Point S1 1.3215
Daily Pivot Point S2 1.3161
Daily Pivot Point S3 1.3131
Daily Pivot Point R1 1.33
Daily Pivot Point R2 1.333
Daily Pivot Point R3 1.3384