GBP/USD technical analysis: Cable approaching 1.2500 as the London session comes to end

GBP/USD is challenging last Friday’s low as it is hovring above 1.2500.
Critical support is seen at 1.2483 according to the Technical Confluences Indicator.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is in a bear trend below its main daily simple moving averages (DSMAs). The market is challenging last Friday’s low just above 1.2500.

GBP/USD 4-hour chart

GBP/USD broke below 1.2536 support. Bears intend to drive the market towards 1.2483 level, according to the Technical Confluences Indicator. The market is also trading below its main SMAs sugesting bearish momentum.

GBP/USD 30-minute chart

The market is challenging the 200 SMA above the 1.2500 figure. Resistance can be seen at 1.2536 and 1.2570, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2521
Today Daily Change	-0.0051
Today Daily Change %	-0.41
Today daily open	1.2572

Trends
Daily SMA20	1.2675
Daily SMA50	1.2782
Daily SMA100	1.2942
Daily SMA200	1.2915

Levels
Previous Daily High	1.258
Previous Daily Low	1.2518
Previous Weekly High	1.258
Previous Weekly Low	1.244
Previous Monthly High	1.2784
Previous Monthly Low	1.2506
Daily Fibonacci 38.2%	1.2556
Daily Fibonacci 61.8%	1.2541
Daily Pivot Point S1	1.2533
Daily Pivot Point S2	1.2494
Daily Pivot Point S3	1.247
Daily Pivot Point R1	1.2595
Daily Pivot Point R2	1.2619
Daily Pivot Point R3	1.2658

Author

Flavio Tosti

Independent Analyst

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