GBP/USD technical analysis: Cable at daily lows loses the 1.2300 handle

The Sterling is trading at daily lows mimicking in a much tamer fashing EUR/USD.
The level to beat for bears is at 1.2260 support.

Flavio Tosti Independent Analyst

GBP/USD daily chart

The Sterling is trading in a bear trend below the 100 and 200-day simple moving averages (SMAs). GBP/USD is consolidating its recent advance below the 1.2400 figure.

GBP/USD four-hour chart

GBP/USD slipped below the 1.2313 support as the market is trading above its main SMAs. As the market is losing steam, it might be correcting down towards 1.2260 and 1.2205 support levels, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

The Sterling is trading below the main SMAs, suggesting bearish momentum in the near term. Immediate resistance is seen at the 1.2313 level, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2291
Today Daily Change	-0.0039
Today Daily Change %	-0.32
Today daily open	1.233

Trends
Daily SMA20	1.2215
Daily SMA50	1.2285
Daily SMA100	1.2527
Daily SMA200	1.2745

Levels
Previous Daily High	1.2372
Previous Daily Low	1.2312
Previous Weekly High	1.2354
Previous Weekly Low	1.1958
Previous Monthly High	1.231
Previous Monthly Low	1.2015
Daily Fibonacci 38.2%	1.2335
Daily Fibonacci 61.8%	1.2349
Daily Pivot Point S1	1.2304
Daily Pivot Point S2	1.2278
Daily Pivot Point S3	1.2244
Daily Pivot Point R1	1.2364
Daily Pivot Point R2	1.2398
Daily Pivot Point R3	1.2424

Author

Flavio Tosti

Independent Analyst

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