Friday’s trade saw GBP/USD within the range of 1.4441-1.4571. The pair closed at 1.4507, edging up 0.21% on a daily basis. It has been the 12th gain in the past 30 trading days, but yet, the slowest one since February 7th, when the pair inched up 0.03%. The daily high was a lower-high test of the high from February 10th. In weekly terms, GBP/USD ticked up a mere 0.03% last week to mark its third gain in the past six weeks and also a second consecutive one. GBP/USD has advanced 1.74% so far during the current month, following three successive months of decline.
At 8:51 GMT today GBP/USD was edging down 0.18% for the day to trade at 1.4495. The pair touched a daily low at 1.4486 at 8:43 GMT, undershooting the daily S2 level, and a daily high at 1.4535 at 6:15 GMT.
No relevant macroeconomic reports and other events, which may influence GBP/USD trading, are scheduled on Monday.
The US President’s Day
Every third Monday in February is referred to as the President’s Day federal holiday in the United States. This day commemorates all the past presidents of the United States and honors the life and deeds of George Washington, the first US President. Banks are to remain closed.
Daily and Weekly Pivot Levels
By employing the Camarilla calculation method, the daily pivot levels for GBP/USD are presented as follows:
R1 – 1.4519
R2 – 1.4531
R3 (range resistance) – 1.4543
R4 (range breakout) – 1.4579
S1 – 1.4495
S2 – 1.4483
S3 (range support) – 1.4471
S4 (range breakout) – 1.4436
By using the traditional method of calculation, the weekly pivot levels for GBP/USD are presented as follows:
Central Pivot Point – 1.4479
R1 – 1.4608
R2 – 1.4708
R3 – 1.4837
S1 – 1.4379
S2 – 1.4250
S3 – 1.4150
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