GBP/USD technical analysis: Cable is on the back foot below 1.2250 level

The Sterling/US Dollar currency pair is under pressure near the 1.2200 handle.
The level to beat for bears is the 1.2200 handle.
The ISM Manufacturing PMI came in below expectations at 47.8 vs. 50.1 forecast, creating a small spike on GBP/USD.

Flavio Tosti Independent Analyst

GBP/USD daily chart

The Sterling is trading in a bear trend below the main daily simple moving averages (DSMAs). The ISM Manufacturing PMI came in below expectations at 47.8 vs. 50.1 forecast, weakening USD across the board.

GBP/USD four-hour chart

GBP/USD is trading below its main SMAs, suggesting bearish momentum in the medium term. A break below the 1.2200 level can open the doors to the 1.2157 support, according to the Technical Confluences Indicator.

GBP/USD 30-minute

The Pound/US Dollar exchange is trading below its main SMAs on the 30-minute chart, suggesting a bearish bias in the short term. Immediate resistances are seen at the 1.2247 level and 1.2260/80 levels, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.0916
Today Daily Change	0.0017
Today Daily Change %	0.16
Today daily open	1.0899

Trends
Daily SMA20	1.101
Daily SMA50	1.1076
Daily SMA100	1.1161
Daily SMA200	1.1241

Levels
Previous Daily High	1.0948
Previous Daily Low	1.0885
Previous Weekly High	1.1026
Previous Weekly Low	1.0905
Previous Monthly High	1.111
Previous Monthly Low	1.0885
Daily Fibonacci 38.2%	1.0909
Daily Fibonacci 61.8%	1.0924
Daily Pivot Point S1	1.0874
Daily Pivot Point S2	1.0849
Daily Pivot Point S3	1.0812
Daily Pivot Point R1	1.0936
Daily Pivot Point R2	1.0973
Daily Pivot Point R3	1.0999

Author

Flavio Tosti

Independent Analyst

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