News

GBP/USD technical analysis: Intraday rollercoaster settles near the 1.2135 level

  • GBP/USD bear trend remains for the moment intact.
  • The levels to beat for bears are seen at 1.2135 and 1.2082 supports.
 

 

GBP/USD daily chart

 
Cable is under bearish pressure near multi-month lows as the market is trading below its main daily simple moving averages (DSMAs). 
 

GBP/USD 4-hour chart

 
GBP/USD is trading below its main SMAs, suggesting bearish momentum in the near term. Bears attempted to break below the 1.2116 support in the New York session. A clear break below this level is necessary for the market to depreciate towards 1.2082, 1.2060, 1.2035 and the 1.2000 figure, according to the Technical Confluences Indicator.
 

GBP/USD 30-minute chart

 
Cable is volatile this Thursday as the market had a sharp reaction up from the daily lows. Spot is settling in the 1.2135-1.2154 range as the London session comes to an end. Immediate resistance can be seen near 1.2154, 1.2186 and the 1.2212 levels.
 

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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.