GBP/USD technical analysis: Cable consolidating losses just below 1.2414 resistance


  • GBP/USD is under bearish pressure near 27-month lows.
  • Support can be seen near 1.2390 and 1.2340 according to the Technical Confluences Indicator.

GBP/USD daily chart


 
GBP/USD is trading at 27-month lows as the bears are challenging the 1.2400 figure. Earlier in London, the UK Indflation in June came in as expected by analysts at 2% (year-on-year) with a limited reaction on the GBP.

GBP/USD 4-hour chart

 

Cable remains under selling pressure below 1.2440 and the main simple moving averages (SMAs). Bears likely intend to targets 1.2390 and 1.2340 levels to the downside, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart


 
GBP/USD is challenging the 1.2414 resistance and the 50 SMA. The market remain under pressure however a corrective pullback above 1.2414 can lead to 1.2440 and 1.2480, according to the Technical Confluences Indicator.


Additional key levels

GBP/USD

Overview
Today last price 1.2408
Today Daily Change 0.0001
Today Daily Change % 0.01
Today daily open 1.2407
 
Trends
Daily SMA20 1.2599
Daily SMA50 1.2677
Daily SMA100 1.2891
Daily SMA200 1.2885
Levels
Previous Daily High 1.2522
Previous Daily Low 1.2396
Previous Weekly High 1.258
Previous Weekly Low 1.244
Previous Monthly High 1.2784
Previous Monthly Low 1.2506
Daily Fibonacci 38.2% 1.2444
Daily Fibonacci 61.8% 1.2474
Daily Pivot Point S1 1.2361
Daily Pivot Point S2 1.2316
Daily Pivot Point S3 1.2235
Daily Pivot Point R1 1.2487
Daily Pivot Point R2 1.2568
Daily Pivot Point R3 1.2613

 

 

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