GBP/USD technical analysis: Cable bulls challenging the 1.2700 figure

GBP/USD has been under strong selling pressure in the last weeks.
GBP/USD is recovering some of its losses but more work needs to be done for bulls.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is up for the third consecutive day as the market is trading below its main simple moving averages (SMAs).

GBP/USD 4-hour chart

Cable is challenging the 1.2700 figure as the market is trading above the 50 SMA.

GBP/USD 30-minute chart

GBP/USD bulls need to keep the market above 1.2700 key resistance. A sustained break above the level can lead to 1.2750. Support is seen at 1.2670 and 1.2640.

Additional key levels

GBP/USD

Overview
Today last price	1.269
Today Daily Change	0.0025
Today Daily Change %	0.20
Today daily open	1.2665

Trends
Daily SMA20	1.2782
Daily SMA50	1.2942
Daily SMA100	1.3008
Daily SMA200	1.2951

Levels
Previous Daily High	1.2675
Previous Daily Low	1.261
Previous Weekly High	1.2748
Previous Weekly Low	1.2559
Previous Monthly High	1.3178
Previous Monthly Low	1.2559
Daily Fibonacci 38.2%	1.265
Daily Fibonacci 61.8%	1.2635
Daily Pivot Point S1	1.2625
Daily Pivot Point S2	1.2585
Daily Pivot Point S3	1.256
Daily Pivot Point R1	1.269
Daily Pivot Point R2	1.2715
Daily Pivot Point R3	1.2755

Author

Flavio Tosti

Independent Analyst

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