GBP/USD technical analysis: Cable bounces from daily lows and challenges the 1.2600 handle

10/14/2019 13:58:53 GMT|ByFlavio Tosti

GBP/USD starts the week retracing part of the massive gains seen last weeks.
GBP/USD is now battling with the 1.2600 handle in the last part of the London session.

GBP/USD daily chart

The Cable, on the daily chart, is trading in a bear trend below its 200-day simple moving average (DSMA). This Monday, the market is consolidating last week's sudden spike related to Brexit deal optimism.

GBP/USD four-hour chart

GBP/USD is challenging the 1.2600 handle in the last part of the London session. If the market breaks above this level, the next resistance of interest can be the 1.2700 handle, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

The Sterling is trading above the 100 and SMAs, suggesting bullish momentum in the near term. Support is seen at the 1.2543/30 zone and the 1.2477 level, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2586
Today Daily Change	-0.0062
Today Daily Change %	-0.49
Today daily open	1.2648

Trends
Daily SMA20	1.2382
Daily SMA50	1.2272
Daily SMA100	1.2413
Daily SMA200	1.2715

Levels
Previous Daily High	1.2707
Previous Daily Low	1.2408
Previous Weekly High	1.2707
Previous Weekly Low	1.2194
Previous Monthly High	1.2583
Previous Monthly Low	1.1958
Daily Fibonacci 38.2%	1.2593
Daily Fibonacci 61.8%	1.2522
Daily Pivot Point S1	1.2468
Daily Pivot Point S2	1.2288
Daily Pivot Point S3	1.2168
Daily Pivot Point R1	1.2768
Daily Pivot Point R2	1.2887
Daily Pivot Point R3	1.3067

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.

{{Text}}

News