News

GBP/USD technical analysis: Cable enters the Asian session near the 1.2216 level

  • GBP/USD is ending Monday near its daily low. 
  • The levels to beat for bears are seen at 1.2216, followed by 1.2197 support.
 

GBP/USD daily chart

 
GBP/USD is trading in a bear trend below the main daily simple moving averages (SMAs). This Monday the market is retreating below the 1.2300 figure.

GBP/USD 4-hour chart

 
The Cable is trading below a downward sloping 200 SMA suggesting bearish momentum in the medium term. Sellers need to break below 1.2216 to reach 1.2197, 1.2159 and 1.2121 support on the way down, according to the Technical Confluences Indicator.
  

GBP/USD 30-minute chart

 
GBP/USD is trading between the 100 and 200 SMAs, suggesting a consolidation in the short term. Resistances are seen at 1.2261, 1.2300 and the 1.2330 levels.

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.