GBP/USD technical analysis: Cable trading at daily highs, above the 1.2300 handle

10/02/2019 15:13:07 GMT|ByFlavio Tosti

GBP/USD is trading mixed this week revolving around the 1.2300 handle.
The level to beat for bulls is the 1.2330 resistance.

GBP/USD daily chart

The Sterling is trading in a downtrend below the 100 and 200-day simple moving averages (DSMAs). In the New York session, the ADP, the forerunner of the Nonfarm Payrolls on Friday disappointed with only 135k vs. 140k expected in September. UK PM Johnson did not provide details on the Brexit plan as negotiations keep going in Brussels.

GBP/USD four-hour chart

GBP/USD is challenging the 200 SMAs, suggesting a neutral bias in the medium term. A break below the 1.2200 level is necessary to open the gates to 1.2157, according to the Technical Confluences Indicator.

GBP/USD 30-minute

The Pound/US Dollar exchange rate is trading above the main SMAs on the 30-minute chart, suggesting a bullish bias in the short term. A break above 1.2330 can expose 1.2360 resistance. Immediate supports are seen at the 1.2280 and 1.2240 levels, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2304
Today Daily Change	-0.0001
Today Daily Change %	-0.01
Today daily open	1.2305

Trends
Daily SMA20	1.2381
Daily SMA50	1.2259
Daily SMA100	1.2443
Daily SMA200	1.2728

Levels
Previous Daily High	1.234
Previous Daily Low	1.2205
Previous Weekly High	1.2504
Previous Weekly Low	1.2271
Previous Monthly High	1.2583
Previous Monthly Low	1.1958
Daily Fibonacci 38.2%	1.2288
Daily Fibonacci 61.8%	1.2256
Daily Pivot Point S1	1.2227
Daily Pivot Point S2	1.2148
Daily Pivot Point S3	1.2092
Daily Pivot Point R1	1.2362
Daily Pivot Point R2	1.2418
Daily Pivot Point R3	1.2496

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