GBP/USD technical analysis: Cable coiling around 1.2538 key level


  • GBP/USD is consolidating near 1.2538 support.
  • Immediate resistance is seen at 1.2570 according to the Technical Confluences Indicator. 

GBP/USD daily chart

GBP/USD is trading in a bear trend below its main daily simple moving averages (DSMAs). The market is correcting up above the 1.2500 figure.

GBP/USD 4-hour chart

GBP/USD is coiling around 1.2538 support and the 50 SMA. The market is trading below its 100 and 200 SMAs suggesting a bearish bias. 


GBP/USD 30-minute chart

GBP/USD is trading below Thursday’s high and 1.2570. However GBP/USD is trading above its main SMAs suggesting that bears have still work to do to potentially resume the bear trend. Resistances can be seen near 1.2570 and 1.2617, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price 1.2544
Today Daily Change 0.0023
Today Daily Change % 0.18
Today daily open 1.2521
 
Trends
Daily SMA20 1.2609
Daily SMA50 1.2714
Daily SMA100 1.291
Daily SMA200 1.2894
Levels
Previous Daily High 1.2572
Previous Daily Low 1.2489
Previous Weekly High 1.2706
Previous Weekly Low 1.2481
Previous Monthly High 1.2784
Previous Monthly Low 1.2506
Daily Fibonacci 38.2% 1.254
Daily Fibonacci 61.8% 1.2521
Daily Pivot Point S1 1.2482
Daily Pivot Point S2 1.2444
Daily Pivot Point S3 1.24
Daily Pivot Point R1 1.2565
Daily Pivot Point R2 1.261
Daily Pivot Point R3 1.2648

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD remains depressed but off daily lows

The EUR/USD pair is recovering from a daily low of 1.1216, although holding in negative territory for the day. US preliminary Michigan Consumer Sentiment Index improved by less-than-anticipated in July, coming in at 98.4 vs. the 98.5 expected.

EUR/USD News

GBP/USD trading marginally lower daily basis but above 1.2500

The Pound gave back some of its Thursday’s gain on dollar’s relief. The GBP/USD pair broke a daily descendant trend line coming from June’s high and holds above it, leaving little room for sellers to act.

GBP/USD News

USD/JPY: bears pausing, still in control

Japanese National Inflation steady at 0.7%YoY in June. US Michigan Consumer Sentiment Index expected at 98.5 in July. USD/JPY corrective advance falling short of signaling an interim bottom in place.

USD/JPY News

Gold consolidates around $ 1440, eyes US data for fresh direction

Gold (futures on Comex) extends its side-trend around the 1440 mark into the mid-European session, having stalled its retreat from 2019 highs of 1454 near 1437 region.

Gold News

Something has spooked the Fed

We wish we knew what it is. Wild talk of the US joining Japan and Europe with zero or negative return on the 10-year is or should be very frightening.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •