GBP/USD Technical Analysis: Cable drops to weekly lows near 1.3040 level

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is consolidating below the 50-day simple moving average (SMA).

GBP/USD 4-hour chart

GBP/USD is trading below its main SMAs suggesting a bearish momentum in the medium-term.

GBP/USD 30-minute chart

The market could find some short-term support here at 1.3040 level.
If broken then the next pit-stop for bears become 1.3000 the figure.
Resistance is at 1.3080 level.

Additional key levels

GBP/USD

Overview
Today last price	1.3048
Today Daily Change	-0.0049
Today Daily Change %	-0.37
Today daily open	1.3097

Trends
Daily SMA20	1.312
Daily SMA50	1.3094
Daily SMA100	1.2946
Daily SMA200	1.2971

Levels
Previous Daily High	1.312
Previous Daily Low	1.3069
Previous Weekly High	1.3133
Previous Weekly Low	1.303
Previous Monthly High	1.3384
Previous Monthly Low	1.296
Daily Fibonacci 38.2%	1.31
Daily Fibonacci 61.8%	1.3088
Daily Pivot Point S1	1.3071
Daily Pivot Point S2	1.3044
Daily Pivot Point S3	1.302
Daily Pivot Point R1	1.3121
Daily Pivot Point R2	1.3146
Daily Pivot Point R3	1.3172

Author

Flavio Tosti

Independent Analyst

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