News

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

  • 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

 

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.