GBP/USD technical analysis: Cabe starts the week with a spike to the 1.2900 handle

GBP/USD is starting the week with a big leap to the 1.2900 handle.
Support is seen at the 1.2835 and 1.2795 levels.

Flavio Tosti Independent Analyst

GBP/USD daily chart

The Cable, In October, had a run to levels not seen since mid-May 2019. The market is correcting the advance in the 1.2800-1.3000 zone.

GBP/USD four-hour chart

GBP/USD is challenging the 1.2882/1.2900 resistance zone close to the 50 and 100 SMAs. Buyers will need to overcome this area in order to climb towards the 1.2950 resistance, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

Sterling/Dollar is trading above downward sloping SMAs, suggesting a potential bullish bias in the near term. Immediate support is seen at the 1.2835 followed by 1.2795, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2872
Today Daily Change	0.0089
Today Daily Change %	0.70
Today daily open	1.2783

Trends
Daily SMA20	1.2862
Daily SMA50	1.2555
Daily SMA100	1.2453
Daily SMA200	1.2705

Levels
Previous Daily High	1.2826
Previous Daily Low	1.2769
Previous Weekly High	1.2943
Previous Weekly Low	1.2769
Previous Monthly High	1.3013
Previous Monthly Low	1.2194
Daily Fibonacci 38.2%	1.279
Daily Fibonacci 61.8%	1.2804
Daily Pivot Point S1	1.276
Daily Pivot Point S2	1.2736
Daily Pivot Point S3	1.2703
Daily Pivot Point R1	1.2816
Daily Pivot Point R2	1.2849
Daily Pivot Point R3	1.2873

Author

Flavio Tosti

Independent Analyst

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