GBP/USD Technical Analysis: Cable bears show no mercy as the market reverse daily gains - 1.2700 figure in sight

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is trading in a bear trend below the 200-day simple moving average (SMA).
GBP/USD reached the 1.2800 target as forecast.

GBP/USD 4-hour chart

Cable bears were quick to erase the gains made to 1.2800 figure as the market rejected the 100 SMA.
GBP/USD is back to the November lows.

GBP/USD 30-minute chart

GBP/USD bears reversed the daily gains to 1.2800.
The momentum is back to negative and a push down to 1.2700 is likely the next objective for sellers.

Additional key levels

GBP/USD

Overview:
    Today Last Price: 1.2732
    Today Daily change: 4.0 pips
    Today Daily change %: 0.0314%
    Today Daily Open: 1.2728
Trends:
    Previous Daily SMA20: 1.2871
    Previous Daily SMA50: 1.2962
    Previous Daily SMA100: 1.2972
    Previous Daily SMA200: 1.3311
Levels:
    Previous Daily High: 1.2826
    Previous Daily Low: 1.2699
    Previous Weekly High: 1.2864
    Previous Weekly Low: 1.2725
    Previous Monthly High: 1.3176
    Previous Monthly Low: 1.2723
    Previous Daily Fibonacci 38.2%: 1.2747
    Previous Daily Fibonacci 61.8%: 1.2777
    Previous Daily Pivot Point S1: 1.2676
    Previous Daily Pivot Point S2: 1.2624
    Previous Daily Pivot Point S3: 1.2549
    Previous Daily Pivot Point R1: 1.2803
    Previous Daily Pivot Point R2: 1.2878
    Previous Daily Pivot Point R3: 1.293

Author

Flavio Tosti

Independent Analyst

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