GBP/USD Technical Analysis: Downside calling, trading sub-1.2900 figure

11/26/2019 17:25:46 GMT|ByFlavio Tosti

The cable is trading near its lowest point since the start of the week.
The level to beat for sellers is the 1.2820 level.

GBP/USD daily chart

GBP/USD is fighting for the 1.2900 handle as the market is consolidating in November. However, the spot keeps an underlying bullish momentum while trading above its main daily simple moving averages (DMAs).

GBP/USD four-hour chart

The spot is trading below the 1.2900 figure and its main SMAs, suggesting a bearish bias in the medium term. A break below 1.2820 should trigger further weakness towards the 1.2785 and 1.2742 price levels, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

Sterling is trading below its main SMAs, suggesting a bearish bias in the short term. Resistance is expected at 1.2870 and the 1.2900/1.2910 price zone, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2852
Today Daily Change	-0.0050
Today Daily Change %	-0.39
Today daily open	1.2902

Trends
Daily SMA20	1.2883
Daily SMA50	1.2685
Daily SMA100	1.2481
Daily SMA200	1.2704

Levels
Previous Daily High	1.2912
Previous Daily Low	1.284
Previous Weekly High	1.2986
Previous Weekly Low	1.2821
Previous Monthly High	1.3013
Previous Monthly Low	1.2194
Daily Fibonacci 38.2%	1.2885
Daily Fibonacci 61.8%	1.2868
Daily Pivot Point S1	1.2858
Daily Pivot Point S2	1.2813
Daily Pivot Point S3	1.2785
Daily Pivot Point R1	1.293
Daily Pivot Point R2	1.2957
Daily Pivot Point R3	1.3002

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