News

GBP/USD technical analysis: Cable is caught in a Friday’s range below the 1.2194 level

  • GBP/USD is trading in a tight range below the 1.2194 resistance.
  • The levels to beat for bears are seen at 1.2156, followed by 1.2125 support levels.


GBP/USD daily chart

 
The Great British Pound is trading in a bear trend below the main daily simple moving averages (SMAs). The market is down for the third day in a row.

GBP/USD 4-hour chart

 
The Cable is trading below 1.2194 resistance and the 50/200 SMAs on the 4-hour time frame. Sellers are most likely looking for a breakdown below 1.2156 support as well as the 1.2125 to potentially reach 1.2065 levels, according to the Technical Confluences Indicator.
 


GBP/USD 30-minute chart

GBP/USD is trading below the 100/200 SMAs, suggesting a bearish bias in the near term. Immediate resistances are seen at the 1.2194, 1.2214 and 1.2245 levels, 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.