GBP/USD Price Analysis: No major takers for Thursday’s bearish spinning top

02 Oct 2020, 10:40 · Views 574

GBP/USD wavers below 1.2900 after snapping a three-day winning streak the previous day.
The key EMAs probe bearish candlestick formation, MACD turns strongest in a month.
Mid-September tops add to the upside barriers past-1.2980.

GBP/USD drops to 1.2880 as markets in Tokyo open for Friday’s trading. Even so, the quote stays mostly unchanged on a daily basis. The pair took a U-turn from 1.2819 to refresh a two week high the previous day. Though, following stabilization below the 1.2900 mark flashed the bearish spinning top candlestick on the daily chart.

Even so, 100-day and 200-day EMA offer the key support to the GBP/USD prices while MACD flashes the strongest bullish signals since early September.

Hence, the pair’s latest weakness may extend towards 100-day EMA near 1.2830. Though, any further downside will be restricted by the 200-day EMA level of 1.2763.

If at all the GBP/USD sellers conquer 1.276 support, the September month’s bottom close to 1.2675 will challenge the pair’s additional south-run.

On the flip side, a daily close beyond Thursday’s high of 1.2978 can aim for the September 16 peak surrounding 1.3010 and September 10 high of 1.3035 during the further recovery.

GBP/USD daily chart

Trend: Sideways

Additional important levels

Overview
Today last price	1.2886
Today Daily Change	-5 pips
Today Daily Change %	-0.04%
Today daily open	1.2891

Trends
Daily SMA20	1.2895
Daily SMA50	1.3031
Daily SMA100	1.2758
Daily SMA200	1.2719

Levels
Previous Daily High	1.2979
Previous Daily Low	1.282
Previous Weekly High	1.2967
Previous Weekly Low	1.2676
Previous Monthly High	1.3482
Previous Monthly Low	1.2676
Daily Fibonacci 38.2%	1.288
Daily Fibonacci 61.8%	1.2918
Daily Pivot Point S1	1.2814
Daily Pivot Point S2	1.2737
Daily Pivot Point S3	1.2655
Daily Pivot Point R1	1.2973
Daily Pivot Point R2	1.3056
Daily Pivot Point R3	1.3132

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