GBP/USD technical analysis: Cable easing from daily highs near 1.2350 level


  • The Sterling has been on a rollercoaster this Thursday as the marked dipped below 1.2300 and corrected up to 1.2360.
  • The market is neutral to bearish trading within its weekly range.
 

GBP/USD daily chart

 
The Pound is trading in a bear trend below the 100 and 200-day simple moving averages (SMAs). GBP/USD is in consolidation mode below the 1.2400 handle.

GBP/USD four-hour chart

 
GBP/USD had a sharp recovery to the 1.2360 level. Bulls are looking for a break above this level and more importantly a daily close above 1.2400 resistance which can open the doors to a run-up to the 1.2460 resistance, according to the Technical Confluences Indicator
 

GBP/USD 30-minute chart

 
The Sterling is trading within its weekly range, suggesting neutral momentum in the short term. Bears would need a break below 1.2317 to open the doors for a run to 1.2240, according to the Technical Confluences Indicator. 
 

Additional key levels

GBP/USD

Overview
Today last price 1.2346
Today Daily Change 0.0016
Today Daily Change % 0.13
Today daily open 1.233
 
Trends
Daily SMA20 1.2215
Daily SMA50 1.2285
Daily SMA100 1.2527
Daily SMA200 1.2745
Levels
Previous Daily High 1.2372
Previous Daily Low 1.2312
Previous Weekly High 1.2354
Previous Weekly Low 1.1958
Previous Monthly High 1.231
Previous Monthly Low 1.2015
Daily Fibonacci 38.2% 1.2335
Daily Fibonacci 61.8% 1.2349
Daily Pivot Point S1 1.2304
Daily Pivot Point S2 1.2278
Daily Pivot Point S3 1.2244
Daily Pivot Point R1 1.2364
Daily Pivot Point R2 1.2398
Daily Pivot Point R3 1.2424

 

 

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

AUD/USD: Buyers and sellers jostle around 0.6600 as coronavirus keeps the driver’s seat

AUD/USD carries the New York session’s downbeat sentiment forward while taking rounds to 0.6600 at the start of the Asian session on Wednesday. While the coronavirus-led risk-off keeps the risk barometer under pressure, weakness in the US dollar restricted the pair’s losses.

AUD/USD News

USD/JPY consolidates losses but bears keep the baton amid coronavirus fears

USD/JPY consolidates losses to 110.20 amid the initial Asian session on Wednesday. That said, the pair portrayed the broad risk-off, led-by coronavirus fears, while declining for the third day in a row during the previous day.

USD/JPY News

Dollar domination set to continue, with or without coronavirus fears

The coronavirus-related fall in US bond yields has been weighing on the US dollar. Nevertheless – and despite worries coming from Markit's PMIs – the greenback is set to gain more ground.

Read more

Gold: Pares early losses, still in the red below $1650 level

Gold extended previous day's intraday retracement slide from multi-year tops and witnessed some follow-through long-unwinding trade on Tuesday.

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex MAJORS

Cryptocurrencies

Signatures