GBP/USD technical analysis: Cable approaching 1.2500 as the London session comes to end
|- GBP/USD is challenging last Friday’s low as it is hovring above 1.2500.
- Critical support is seen at 1.2483 according to the Technical Confluences Indicator.
GBP/USD daily chart
GBP/USD is in a bear trend below its main daily simple moving averages (DSMAs). The market is challenging last Friday’s low just above 1.2500.
GBP/USD 4-hour chart
GBP/USD broke below 1.2536 support. Bears intend to drive the market towards 1.2483 level, according to the Technical Confluences Indicator. The market is also trading below its main SMAs sugesting bearish momentum.
GBP/USD 30-minute chart
The market is challenging the 200 SMA above the 1.2500 figure. Resistance can be seen at 1.2536 and 1.2570, 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.