GBP/USD technical analysis: Cable holding above the 1.2700 handle

GBP/USD is in a small correction down holding above 1.2700 handle.
Support is seen at 1.2700 and 1.2660 according to the Technical Confluences Indicator.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is trading in a bear trend below its main daily simple moving averages. (DSMAs) The market is currently finding some resistance below the 1.2800 handle.

GBP/USD 4-hour chart

Cable is trading above its main SMAs suggesting bullish momentum in the near term. The next resistances to the upside are located at 1.2800 and 1.2825 according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

GBP/USD is trading below the 50 SMA suggesting a potential correction down in the near term. Support is at the 1.2700 and 1.2660 levels according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.273
Today Daily Change	-0.0013
Today Daily Change %	-0.10
Today daily open	1.2743

Trends
Daily SMA20	1.2662
Daily SMA50	1.2822
Daily SMA100	1.2958
Daily SMA200	1.2929

Levels
Previous Daily High	1.275
Previous Daily Low	1.2642
Previous Weekly High	1.275
Previous Weekly Low	1.2506
Previous Monthly High	1.3178
Previous Monthly Low	1.2559
Daily Fibonacci 38.2%	1.2708
Daily Fibonacci 61.8%	1.2683
Daily Pivot Point S1	1.2674
Daily Pivot Point S2	1.2604
Daily Pivot Point S3	1.2566
Daily Pivot Point R1	1.2781
Daily Pivot Point R2	1.2819
Daily Pivot Point R3	1.2889

Author

Flavio Tosti

Independent Analyst

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