- The Cable hits fresh multi-year lows this Tuesday.
- The levels to beat for sellers are seen at 1.2016, followed by 1.1957 support levels.
- Buyers would need to have a daily close above 1.2132 to have a credible recovery.
GBP/USD daily chart
The Sterling is trading in a bear trend below its main daily simple moving averages (SMAs) as it hit fresh multi-year lows. Brexit chaos is weighing heavily on the Pound.
GBP/USD four-hour chart
The Cable is under bearish pressure below 1.2038 resistance and its main SMAs on the four-hour chart. The level to beat for sellers is 1.2016, followed by 1.1957, 1.1932 and 1.1880 level on the way down, according to the Technical Confluences Indicator.
GBP/USD 30-minute chart
GBP/USD is trading below the main SMAs, suggesting a bearish bias in the near term. The market had a spike up above 1.2080 but the move up is fading. Immediate resistances are seen at 1.2038, 1.2070 and 1.2095, according to the Technical Confluences Indicator. Bulls would need to have a daily close above 1.2132 to have a credible recovery.
Additional key levels
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