GBP/USD Price Analysis: Stays flat-lined around mid-1.4100s

GBP/USD wavers in the middle of 100-pips monthly trading range.
Upbeat Momentum favors another attempt to cross 200-HMA.
Friday’s low, monthly top act as extra filters.

Anil Panchal FXStreet

GBP/USD pares the previous day’s losses around 1.4150 amid a quiet Asian session on Wednesday. In doing so, the cable pair remains between 1.4110 and 1.4200 region established since May-end.

However, the recent pick-up in the Momentum line could help the quote to again battle the 200-HMA level of 1.4166 before targeting the weekly high of 1.4190 and the range resistance near 1.4200.

If at all the GBP/USD prices remain firm beyond 1.4200, the monthly high, also the highest since April 2018 near 1.4250 will be in the spotlight.

Meanwhile, pullback moves may aim for 1.4130 before testing the stated range’s support close to 1.4110, quickly followed by the 1.4100 threshold.

During the quote’s weakness below 1.4100, the monthly low of 1.4082 may test GBP/USD bears ahead of directing them to the May 13 low near the 1.4000 psychological manget.

To sum up, GBP/USD seeks clear direction inside a 100-pips trading zone.

GBP/USD hourly chart

Trend: Sideways

Additional important levels

Overview
Today last price	1.415
Today Daily Change	-33 pips
Today Daily Change %	-0.23%
Today daily open	1.4183

Trends
Daily SMA20	1.4147
Daily SMA50	1.3974
Daily SMA100	1.3905
Daily SMA200	1.3556

Levels
Previous Daily High	1.4191
Previous Daily Low	1.4111
Previous Weekly High	1.4249
Previous Weekly Low	1.4083
Previous Monthly High	1.4234
Previous Monthly Low	1.3801
Daily Fibonacci 38.2%	1.416
Daily Fibonacci 61.8%	1.4142
Daily Pivot Point S1	1.4133
Daily Pivot Point S2	1.4082
Daily Pivot Point S3	1.4053
Daily Pivot Point R1	1.4212
Daily Pivot Point R2	1.4241
Daily Pivot Point R3	1.4292

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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