GBP/USD technical analysis: Cable clings to daily highs near 1.2865 after London close

11/12/2019 17:40:20 GMT|ByFlavio Tosti

GBP/USD is trading near daily highs after the London close.
The level to beat for buyers is the 1.2882/1.2900 resistance zone.

GBP/USD daily chart

The market is currently correcting the advance in the 1.2800-1.3000 price zone. The Cable, last month, had a bull run to levels not seen since mid-May 2019.

GBP/USD four-hour chart

GBP/USD is nearing the 1.2882/1.2900 resistance zone and the 50/100 SMAs. Bulls would need a break above this area on a daily basis in order to reclaim the 1.2950 resistance, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

The Sterling is trading above its main SMAs, suggesting a potential bullish bias in the near term. It will be interesting to see if the market can break the 1.2882/1.2900 resistance zone. To the downside, 1.2835 and 1.2795 can act as support levels, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2867
Today Daily Change	0.0015
Today Daily Change %	0.12
Today daily open	1.2852

Trends
Daily SMA20	1.2874
Daily SMA50	1.2571
Daily SMA100	1.2454
Daily SMA200	1.2704

Levels
Previous Daily High	1.2899
Previous Daily Low	1.2785
Previous Weekly High	1.2943
Previous Weekly Low	1.2769
Previous Monthly High	1.3013
Previous Monthly Low	1.2194
Daily Fibonacci 38.2%	1.2855
Daily Fibonacci 61.8%	1.2829
Daily Pivot Point S1	1.2792
Daily Pivot Point S2	1.2731
Daily Pivot Point S3	1.2678
Daily Pivot Point R1	1.2906
Daily Pivot Point R2	1.2959
Daily Pivot Point R3	1.302

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