GBP/USD technical analysis: Cable under pressure below 1.2650 as BoE’s Carney speak
|- GBP/USD under bearish pressure, trading below its main moving averages.
- A break below 1.2650 would open the doors for Cable to 1.2600 and 1.2550.
GBP/USD is trading under pressure on fresh USD bullish run. The Cable is heading to the weekend trading below its main moving averages.
Investors will be listening to Bank of England’s Carney speech at 12.55 GMT. Earlier, the Retail Sales Control Group in May beats expectations at 0.5% vs. 0.4% forecast. Coming up next is the Michigan Consumer Sentiment Index at 14.00 GMT.
GBP/USD daily chart
GBP/USD is trading in a bear trend below its main simple moving averages.
GBP/USD 4-hour chart
The market is under pressure below 1.2650 and its main simple moving averages (SMAs).
GBP/USD 30-minute chart
Bears broke below 1.2650 opening the gates to 1.2600 and 1.2560. Resistance is at 1.2650 and 1.2700 figure.
Additional key levels
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