GBP/USD Technical Analysis: Cable directionless amidst Brexit chaos

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is consolidating above the 200-day simple moving average (SMA) while rejecting the 1.3100 level and the 50 SMA.

GBP/USD 4-hour chart

GBP/USD is trading below its main SMAs suggesting bearish momentum in the medium-term.

GBP/USD 30-minute chart

GBP/USD is trading below its main SMAs suggesting bearish momentum in the short-term.
The main support to the downside is seen at 1.3000 and 1.2960 level.
Immediate resistance is seen at 1.3080 and 1.3120 level.

Additional key levels

GBP/USD

Overview
Today last price	1.3058
Today Daily Change	0.0005
Today Daily Change %	0.04
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 holds firm near 1.1850 amid USD weakness

EUR/USD remains strongly bid around 1.1850 in European trading on Monday. The USD/JPY slide-led broad US Dollar weakness helps the pair build on Friday's recovery ahead of the Eurozone Sentix Investor Confidence data for February.

GBP/USD holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s interest-rate cut weighs on the Pound Sterling against the Greenback.

Gold remains supported by China's buying and USD weakness as traders eye US data

Gold struggles to capitalize on its intraday move up and remains below the $5,100 mark heading into the European session amid mixed cues. Data released over the weekend showed that the People's Bank of China extended its buying spree for a 15th month in January. Moreover, dovish US Fed expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.

Cardano steadies as whale selling caps recovery

Cardano (ADA) steadies at $0.27 at the time of writing on Monday after slipping more than 5% in the previous week. On-chain data indicate a bearish trend, with certain whales offloading ADA. However, the technical outlook suggests bearish momentum is weakening, raising the possibility of a short-term relief rebound if buying interest picks up.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.