GBP/USD technical analysis: Cable trading at five-day highs above the 1.2360 level

10/03/2019 17:08:27 GMT|ByFlavio Tosti

GBP/USD is easing from daily highs after the London close.
The level to beat for buyers is the 1.2420 resistance.

GBP/USD daily chart

The Sterling is trading in a downtrend below its 100 and 200-day simple moving averages (DSMAs). US weakness and positive Brexit news gave GBP/USD a boost this Thursday.

GBP/USD four-hour chart

GBP/USD is trading above the 50 and 200 SMAs, suggesting a bullish bias in the medium term. A break above 1.2420 and the 100 SMA would expose the 1.2450 and 1.2480 resistances, 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. Immediate supports are seen at the 1.2360 and 1.2340 levels, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2372
Today Daily Change	0.0074
Today Daily Change %	0.60
Today daily open	1.2298

Trends
Daily SMA20	1.2383
Daily SMA50	1.2256
Daily SMA100	1.2438
Daily SMA200	1.2726

Levels
Previous Daily High	1.2325
Previous Daily Low	1.2227
Previous Weekly High	1.2504
Previous Weekly Low	1.2271
Previous Monthly High	1.2583
Previous Monthly Low	1.1958
Daily Fibonacci 38.2%	1.2264
Daily Fibonacci 61.8%	1.2287
Daily Pivot Point S1	1.2242
Daily Pivot Point S2	1.2185
Daily Pivot Point S3	1.2144
Daily Pivot Point R1	1.234
Daily Pivot Point R2	1.2381
Daily Pivot Point R3	1.2437

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.

{{Text}}

News