GBP/USD Technical Analysis: Cable bears en route to 1.2500 figure and a new 2018 low

Flavio Tosti Independent Analyst

EUR/USD daily chart

GBP/USD is trading in a bear trend below the 50, 100 and 200-day simple moving average (SMA).
GBP/USD broke a multi-month support yesterday (Monday December 10).

GBP/USD 4-hour chart

GBP/USD is strongly bearish.

GBP/USD 30-minute chart

The 1.2560 support is the last bastion for bears.
If 1.2560 is broken, the 1.2500 figure is likely the next destination for Cable.

Additional key levels

GBP/USD

Overview:
    Today Last Price: 1.2586
    Today Daily change: 27 pips
    Today Daily change %: 0.215%
    Today Daily Open: 1.2559
Trends:
    Previous Daily SMA20: 1.2792
    Previous Daily SMA50: 1.2922
    Previous Daily SMA100: 1.2953
    Previous Daily SMA200: 1.3281
Levels:
    Previous Daily High: 1.276
    Previous Daily Low: 1.2507
    Previous Weekly High: 1.284
    Previous Weekly Low: 1.2659
    Previous Monthly High: 1.3176
    Previous Monthly Low: 1.2723
    Previous Daily Fibonacci 38.2%: 1.2604
    Previous Daily Fibonacci 61.8%: 1.2663
    Previous Daily Pivot Point S1: 1.2457
    Previous Daily Pivot Point S2: 1.2355
    Previous Daily Pivot Point S3: 1.2204
    Previous Daily Pivot Point R1: 1.2711
    Previous Daily Pivot Point R2: 1.2862
    Previous Daily Pivot Point R3: 1.2964

Author

Flavio Tosti

Independent Analyst

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