#GBPUSD @ 1.19594 Unable to crack the 200-day EMA, the fell beneath the psychological 1.2000 figure. (Pivot Orderbook analysis)

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• Unable to crack the 200-day EMA, the GBP/USD fell beneath the psychological 1.2000 figure.
• Short-term, the GBP/USD is downward biased, and once reclaiming 1.1900, it might fall to 1.1820s.

The pair currently trades last at 1.19594.

The previous day high was 1.2128 while the previous day low was 1.2058. The daily 38.2% Fib levels comes at 1.2085, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.2101, expected to provide resistance.

The GBP/USD moved downward on Monday, spurred by tensions arising in China due to Covid-19 zero-tolerance restrictions. US central bankers foresee a 2023 year of high-interest rates as they commit to higher for longer bolstered the US Dollar (USD). At the time of writing, the GBP/USD is trading at 1.1957, below its opening price by 0.07%, as the Asian session begins.

On Monday, the GBP/USD dived below the 1.2000 figure, exacerbated by Pound Sterling (GBP) buyers unable to crack the 200-day Exponential Moving Average (EMA) around 1.2170. Therefore, the GBP/USD dropped below the 1.2000 figure, eyeing a re-test of an upslope trendline drawn from September lows that pass around 1.1640/60. For that scenario to play out, the GBP/USD needs to drop below the November 23 daily low of 1.1872, which, once cleared, could pave the way for the previously mentioned upslope trendline.

Short term, the GBP/USD is testing the 50-Exponential Moving Average (EMA) in the 4-hour chart at 1.1953. The Relative Strength Index (RSI) sliding below the 50-midline suggests sellers outweigh buyers. Hence, the GBP/USD path of least resistance is downward biased.

The GBP/USD first support would be 1.1953. A decisive break will expose the 1.1900 figure, followed by the S1 daily pivot at 1.1890, ahead of the S2 daily pivot at 1.1828. On the flip side, the GBP/USD first resistance would be 1.2000, followed by the daily pivot point at 1.2010, followed by the R1 daily pivot at 1.2070.

Technical Levels: Supports and Resistances

GBPUSD currently trading at 1.1958 at the time of writing. Pair opened at 1.2097 and is trading with a change of -1.15 % .

The pair is trading above its 20 Daily moving average @ 1.1706, above its 50 Daily moving average @ 1.1417 , above its 100 Daily moving average @ 1.1644 and below its 200 Daily moving average @ 1.2185

The previous day high was 1.2128 while the previous day low was 1.2058. The daily 38.2% Fib levels comes at 1.2085, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.2101, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 1.2061, 1.2025, 1.1992
• Pivot resistance is noted at 1.2131, 1.2164, 1.22

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