GBP/USD Technical Analysis: Bulls in the driver’s seat, eyeing the 1.3000 handle

The cable is trading near weekly highs as the American session is coming to an end.
The level to beat for bulls is the 1.2910 level.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is trading just above the 1.2900 handle as the market is consolidating the huge October’s bull run. The market keeps a bullish bias while trading above the main daily simple moving averages (DMAs).

GBP/USD four-hour chart

The market is challenging a critical resistance in the 1.2900/1.2910 price zone. A breach beyond it could lead to further gains, which can extend towards the 1.2965/1.3000 resistance zone.

GBP/USD 30-minute chart

Sterling is trading above the main SMAs, suggesting a bullish bias in the short term. Support is expected near the 1.2900 and 1.2870 levels, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2912
Today Daily Change	0.0048
Today Daily Change %	0.37
Today daily open	1.2864

Trends
Daily SMA20	1.2882
Daily SMA50	1.2692
Daily SMA100	1.2485
Daily SMA200	1.2703

Levels
Previous Daily High	1.2908
Previous Daily Low	1.2835
Previous Weekly High	1.2986
Previous Weekly Low	1.2821
Previous Monthly High	1.3013
Previous Monthly Low	1.2194
Daily Fibonacci 38.2%	1.2863
Daily Fibonacci 61.8%	1.288
Daily Pivot Point S1	1.283
Daily Pivot Point S2	1.2795
Daily Pivot Point S3	1.2756
Daily Pivot Point R1	1.2903
Daily Pivot Point R2	1.2943
Daily Pivot Point R3	1.2977

Author

Flavio Tosti

Independent Analyst

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