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

 

 

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