GBP/USD technical analysis: Cable trades at daily highs challenging the 1.2440 resistance level
|- GBP/USD takes a breather and bounces from the 1.2400 level.
- Resistances are seen at 1.2440 and 1.2480, according to the Technical Confluences Indicator.
GBP/USD daily chart
GBP/USD is trading at 27-month lows as the market is having a small rebound above the 1.2400 figure.
GBP/USD 4-hour chart
Cable is challenging the 1.2440 resistance area. If bulls manage to break above 1.2440 the next resistance can be seen at 1.2480, according to the Technical Confluences Indicator.
GBP/USD 30-minute chart
GBP/USD is trading between the 50 and 100 SMAs suggesting a correction in the medium term. Supports can be seen near 1.2414 and 1.2385.
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.