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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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