News

GBP/USD Technical Analysis: Bulls in the driver’s seat, eyeing the 1.3000 handle

  • The cable is trading near weekly highs as the American session is coming to an end.
  • The level to beat for bulls is the 1.2910 level.

 

GBP/USD daily chart

 
 
GBP/USD is trading just above the 1.2900 handle as the market is consolidating the huge October’s bull run. The market keeps a bullish bias while trading above the main daily simple moving averages (DMAs).
 

GBP/USD four-hour chart

 
The market is challenging a critical resistance in the 1.2900/1.2910 price zone. A breach beyond it could lead to further gains, which can extend towards the 1.2965/1.3000 resistance zone. 
 
 

GBP/USD 30-minute chart

 
Sterling is trading above the main SMAs, suggesting a bullish bias in the short term. Support is expected near the 1.2900 and 1.2870 levels, according to the Technical Confluences Indicator
 

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.