GBP/USD Technical Analysis: Cable advancing to 3-day’s high amidst Brexit saga and ahead of FOMC

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is consolidating above the 200-day simple moving average (SMA).
The FOMC at 18.00 GMT can lead to high volatility in USD-related pairs.
UK's PM May addresses EU leaders, requesting article 50 extension until 30 June (Letter to European Council President Donald Tusk enclosed).

GBP/USD 4-hour chart

GBP/USD is rising towards the 100 SMA.

GBP/USD 30-minute chart

GBP/USD is challenging the 1.3120 resistance. Buyers seem to be in charge which could potentially lead to a bullish continuation to 1.3200 and 1.3250 resistance.
The main supports to the downside are seen at 1.3080, 1.3040 and 1.3000 level.

Additional key levels

GBP/USD

Overview
Today last price	1.3121
Today Daily Change	0.0068
Today Daily Change %	0.52
Today daily open	1.3053

Trends
Daily SMA20	1.3161
Daily SMA50	1.3095
Daily SMA100	1.2936
Daily SMA200	1.2974

Levels
Previous Daily High	1.3122
Previous Daily Low	1.303
Previous Weekly High	1.3196
Previous Weekly Low	1.2987
Previous Monthly High	1.3384
Previous Monthly Low	1.296
Daily Fibonacci 38.2%	1.3065
Daily Fibonacci 61.8%	1.3087
Daily Pivot Point S1	1.3014
Daily Pivot Point S2	1.2976
Daily Pivot Point S3	1.2922
Daily Pivot Point R1	1.3107
Daily Pivot Point R2	1.3161
Daily Pivot Point R3	1.3199

Author

Flavio Tosti

Independent Analyst

EUR/USD appears supported by the 200-day SMA, for now

Following an early pullback to multi-week lows near 1.1670, EUR/USD now manages to reclaim the 1.1700 region as the NA session draws to a close on Monday. The steep retracement in spot follows the equally strong move higher in the US Dollar, as investors continue to assess the geopolitical landscape in the wake of the US and Israel attacks on Iran.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold eases some ground, approaches $5,300

Gold now surrenders part of the earlier advance, reshifting its attenton to the $5,300 zone per troy ounce at the beginning of the week. Indeed, the yellow metal’s firm performance appears propped up by incresing geopolitical jitters in the Middle East, which at the same time fuels the demand for the safe-haven space.