GBP/USD technical analysis: Cable ending the day on its lows below 1.2700 figure
|- GBP/USD weakens below 1.2700.
- The level to beat for bears is 1.2650.
GBP/USD daily chart
GBP/USD is consolidating after the selloff seen in May.
The market is trading below 1.2700 and its main simple moving averages (SMAs).
GBP/USD 30-minute chart
The range remains intact as Cable is trading between the 1.2650 and 1.2750 levels. Bears need a break below 1.2650 to reach 1.2600. Resistance is at 1.2750 and 1.2800 figure.
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.