GBP/USD technical analysis: Cable clings to five-month highs after the London close

GBP/USD is holding to levels not seen since mid-May of this year.
GBP/USD is trading above the 1.2840 level after the London close.

Flavio Tosti Independent Analyst

GBP/USD daily chart

The Sterling, on the daily chart, is trading above its 200-day simple moving average (DSMA). Earlier in the New York session, GBP/USD leaped above 1.2800 as the DUP (Democratic Unionist Party) reportedly accepted Brexit proposals on consent. GBP/USD is trading at its highest level since mid-May 2019.

GBP/USD four-hour chart

GBP/USD is clinging to daily and monthly highs while trading above the main SMAs. The intense bullish pressure can see the 1.2907/1.2934 and 1.3000 figure challenged in the coming sessions.

GBP/USD 30-minute chart

GBP/USD is trading above its main SMAs, suggesting bullish momentum in the near term. Support is at the 1.2840 level, the 1.2800 figure and the 1.2733 level, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2847
Today Daily Change	0.0063
Today Daily Change %	0.49
Today daily open	1.2784

Trends
Daily SMA20	1.2405
Daily SMA50	1.2293
Daily SMA100	1.2413
Daily SMA200	1.2714

Levels
Previous Daily High	1.2801
Previous Daily Low	1.2602
Previous Weekly High	1.2707
Previous Weekly Low	1.2194
Previous Monthly High	1.2583
Previous Monthly Low	1.1958
Daily Fibonacci 38.2%	1.2725
Daily Fibonacci 61.8%	1.2678
Daily Pivot Point S1	1.2657
Daily Pivot Point S2	1.253
Daily Pivot Point S3	1.2458
Daily Pivot Point R1	1.2856
Daily Pivot Point R2	1.2928
Daily Pivot Point R3	1.3056

Author

Flavio Tosti

Independent Analyst

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