GBP/USD technical analysis: Cable consolidates losses near the 1.2450 level.

GBP/USD is under pressure below the 1.2478 resistance level.
The level to beat for bears are at 1.2433 and 1.2388, according to the Technical Confluences Indicator.

Flavio Tosti Independent Analyst

GBP/USD daily chart

Cable is trading in a bear trend below its main daily simple moving averages (DSMAs). The market is currently consolidation the recent losses near the 1.2450 level.

GBP/USD 4-hour chart

Cable is trading below the 1.2478 resistance level and the main SMAs. Sellers want a daily close below 1.2433 support to travel south to the 1.2388 level, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

GBP/USD is trading below the main SMAs suggesting bearish momentum in the near term. Immediate resistances are seen at 1.2478 and 1.2543.

Additional key levels

GBP/USD

Overview
Today last price	1.2449
Today Daily Change	-0.0027
Today Daily Change %	-0.22
Today daily open	1.2476

Trends
Daily SMA20	1.2556
Daily SMA50	1.2636
Daily SMA100	1.2861
Daily SMA200	1.2871

Levels
Previous Daily High	1.252
Previous Daily Low	1.2455
Previous Weekly High	1.2579
Previous Weekly Low	1.2382
Previous Monthly High	1.2784
Previous Monthly Low	1.2506
Daily Fibonacci 38.2%	1.248
Daily Fibonacci 61.8%	1.2495
Daily Pivot Point S1	1.2447
Daily Pivot Point S2	1.2418
Daily Pivot Point S3	1.2382
Daily Pivot Point R1	1.2512
Daily Pivot Point R2	1.2549
Daily Pivot Point R3	1.2578

Author

Flavio Tosti

Independent Analyst

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