GBP/USD technical analysis: Cable ends the day at its lowest in 2 years, sub-1.2240

07/29/2019 20:59:54 GMT|ByFlavio Tosti

GBP/USD collapsed to 2-year lows as UK PM Boris Johnson is working on a no-deal Brexit.
The 1.2216 and 1.2180 level can be the next pit-stop for sellers, according to the Technical Confluences Indicator.

GBP/USD daily chart

Cable down is down to its lowest level since March 2017 as UK Prime Minister Boris Johnson is pushing for a no-deal Brexit.

GBP/USD 4-hour chart

GBP/USD is trading below the 1.2240 resistance as the market collapsed this Monday. Bears objective is to continue the move down. A break below 1.2216 can lead to 1.2180 on the way down, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

Cable is ending the day on its low tick as the sellers have been relentless throughout the day. Resistances are seen near 1.2240, 1.2264, 1.2285, 1.2304, 1.2336 and 1.2381, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2224
Today Daily Change	-0.0158
Today Daily Change %	-1.28
Today daily open	1.2382

Trends
Daily SMA20	1.2506
Daily SMA50	1.2606
Daily SMA100	1.2834
Daily SMA200	1.2858

Levels
Previous Daily High	1.2464
Previous Daily Low	1.2376
Previous Weekly High	1.2522
Previous Weekly Low	1.2376
Previous Monthly High	1.2784
Previous Monthly Low	1.2506
Daily Fibonacci 38.2%	1.2409
Daily Fibonacci 61.8%	1.243
Daily Pivot Point S1	1.2351
Daily Pivot Point S2	1.232
Daily Pivot Point S3	1.2263
Daily Pivot Point R1	1.2438
Daily Pivot Point R2	1.2495
Daily Pivot Point R3	1.2526

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