GBP/USD technical analysis: Cable having a small bounce from daily lows, sub-1.2135 resistance

GBP/USD is trading off multi-month lows below 1.2135 resistance.
A break above 1.2135 can see the correction advance towards 1.2167.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is off multi-month lows trading below its main daily simple moving averages.

GBP/USD 4-hour chart

GBP/USD is stabilizing just above 1.2100 support. The bears need a break below the level to reach the next supports at 1.2067 and 1.1998, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

Cable is having a small bounce from the daily lows. The bulls need to break 1.2135 to extend the correction towards 1.2167, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2122
Today Daily Change	-0.0038
Today Daily Change %	-0.31
Today daily open	1.216

Trends
Daily SMA20	1.2443
Daily SMA50	1.2575
Daily SMA100	1.2804
Daily SMA200	1.2847

Levels
Previous Daily High	1.225
Previous Daily Low	1.2134
Previous Weekly High	1.2522
Previous Weekly Low	1.2376
Previous Monthly High	1.2706
Previous Monthly Low	1.2119
Daily Fibonacci 38.2%	1.2206
Daily Fibonacci 61.8%	1.2179
Daily Pivot Point S1	1.2113
Daily Pivot Point S2	1.2065
Daily Pivot Point S3	1.1996
Daily Pivot Point R1	1.2229
Daily Pivot Point R2	1.2298
Daily Pivot Point R3	1.2346

Author

Flavio Tosti

Independent Analyst

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