GBP/USD Price Analysis: Buyers attack 1.2200 following Monday’s spinning top


GBP/USD takes the bids to 1.2195 during the initial Asian session on Tuesday. The pair formed a bullish “spinning top” candlestick on the daily chart the previous day after consecutive three days of downside.

While the candlestick formation portrays the struggle between the buyers and the sellers, 50-day SMA keeps the quote’s near-term upside guarded.

As a result, the current recovery moves may initially aim for a 50-day SMA level of 1.2275 ahead of targeting 1.2300 mark comprising high of May 19.

Should the bulls manage to keep the reins beyond 1.2300, May 08 top near 1.2470 and 1.2500 round-figure could return to the charts.

On the downside, pair’s declines below Friday’s low of 1.2162 can recall the bears targeting to refresh the monthly bottom below 1.2075.

GBP/USD daily chart

Trend: Further recovery expected

Additional important levels

Today last price1.2194
Today Daily Change20 pips
Today Daily Change %0.16%
Today daily open1.2174


Daily SMA201.2334
Daily SMA501.2274
Daily SMA1001.2623
Daily SMA2001.2666


Previous Daily High1.2234
Previous Daily Low1.2162
Previous Weekly High1.2296
Previous Weekly Low1.2076
Previous Monthly High1.2648
Previous Monthly Low1.2165
Daily Fibonacci 38.2%1.2189
Daily Fibonacci 61.8%1.2206
Daily Pivot Point S11.2146
Daily Pivot Point S21.2118
Daily Pivot Point S31.2074
Daily Pivot Point R11.2218
Daily Pivot Point R21.2262
Daily Pivot Point R31.229