GBP/USD Technical Analysis: Cable easing from daily highs, trading back below the 1.2900 handle

The cable is starting the week with a small recovery, which aimed at the 1.2900 handle.
The level to beat for buyers is the 1.2900/1.2916 resistance zone.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is battling for the 1.2900 handle as the market is chopping in November. The market keeps an underlying bullish bias while trading above the main daily simple moving averages (DMAs).

GBP/USD four-hour chart

The spot is trading above a rising 200 SMA, suggesting bullish momentum. A break above the 1.2900/1.2916 resistance zone is necessary to trigger further gains towards the 1.2964/1.3000 resistance zone, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

GBP/USD is starting the week with an attempt at regaining the 1.2900/1.2916 resistance zone. Bulls seem to be in control for the time being. Support is seen at the 1.2870 and 1.2820 price levels.

Additional key levels

GBP/USD

Overview
Today last price	1.2885
Today Daily Change	0.0048
Today Daily Change %	0.37
Today daily open	1.2837

Trends
Daily SMA20	1.2881
Daily SMA50	1.2675
Daily SMA100	1.2478
Daily SMA200	1.2704

Levels
Previous Daily High	1.2929
Previous Daily Low	1.2821
Previous Weekly High	1.2986
Previous Weekly Low	1.2821
Previous Monthly High	1.3013
Previous Monthly Low	1.2194
Daily Fibonacci 38.2%	1.2862
Daily Fibonacci 61.8%	1.2888
Daily Pivot Point S1	1.2795
Daily Pivot Point S2	1.2754
Daily Pivot Point S3	1.2687
Daily Pivot Point R1	1.2903
Daily Pivot Point R2	1.297
Daily Pivot Point R3	1.3012

Author

Flavio Tosti

Independent Analyst

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