GBP/USD technical analysis: Cable is trading near October lows after US inflation


  • The US Core Consumer Price Index (CPI) came out as expected at 2.4% YoY. 
  • The level to beat for bears is the 1.2200 support. 
 
 

GBP/USD daily chart

 
 
On the daily chart, the Cable is trading in a downtrend below the main daily simple moving averages (DSMAs). The US Core Consumer Price Index (CPI) came out as expected at 2.4% YoY. 
 
 

GBP/USD four-hour chart

 
GBP/USD is trading just above the 1.2200/1.2226 support zone. A break below 1.2200 is necessary for a breakdown towards 1.2130 support, according to the Technical Confluences Indicator.
 
 
 
 

GBP/USD 30-minute chart

 
 
The Sterling is trading between the 100 and 200 SMAs, suggesting a consolidation phase in the near term. Resistances are seen at the 1.2255 and 1.2280 price levels, according to the Technical Confluences Indicator.
 
 

Additional key levels

GBP/USD

Overview
Today last price 1.2232
Today Daily Change 0.0027
Today Daily Change % 0.22
Today daily open 1.2205
 
Trends
Daily SMA20 1.2369
Daily SMA50 1.2256
Daily SMA100 1.2415
Daily SMA200 1.2716
 
Levels
Previous Daily High 1.2292
Previous Daily Low 1.2197
Previous Weekly High 1.2414
Previous Weekly Low 1.2205
Previous Monthly High 1.2583
Previous Monthly Low 1.1958
Daily Fibonacci 38.2% 1.2233
Daily Fibonacci 61.8% 1.2256
Daily Pivot Point S1 1.2171
Daily Pivot Point S2 1.2136
Daily Pivot Point S3 1.2075
Daily Pivot Point R1 1.2266
Daily Pivot Point R2 1.2327
Daily Pivot Point R3 1.2361

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD consolidating as markets digest the new US-Sino trade truce

EUR/UDS is trading around 1.1030, little changed. Markets are digesting the US-Sino handshake deal that prevents new US tariffs that were planned for Tuesday. Euro-zone industrial output is due out.

EUR/USD News

GBP/USD falls toward 1.2550 as Brexit talks drag

GBP/USD extends its losses and falls toward 1.2550 as Brexit optimism fades. Intense weekend talks have failed to result in an accord. Negotiations continue ahead of the EU Summit. 

GBP/USD News

USD/JPY retreats from 2-1/2 month tops, still comfortable above 108.00 handle

A partial US-China trade deal on Friday weighed on the JPY’s safe-haven status. Traders now seemed inclined to book profit despite a pickup in the USD demand.

USD/JPY News

Gold climbs to session tops, inching closer to $1500 mark

Gold edged higher through the early European session and is currently placed at the top end of its daily trading range, around the $1495 region.

Gold News

Forex Today: Markets skeptical about US-Sino trade truce and sterling suffers a hangover as talks continue

Markets are cautious regarding the US-Sino partial trade deal. The world's largest economy agreed on a "hand-shake" agreement which is yet to be written. It includes a Chinese commitment to buy agrifoods.

Read more

Forex MAJORS

Cryptocurrencies

Signatures