GBP/USD technical analysis: Cable keep sliding to 9-day lows below 1.2600 handle

GBP/USD is under strong selling pressure as the USD is on the rise.
The market is nearing the May low near 1.2559 which is an important support to look at.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is trading in a bear trend below its main simple moving averages. The market is nearing the May low at 1.2559. It will be interesting to see if the market will break this support.

GBP/USD 4-hour chart

The market is under bearish pressure below 1.2600 and its main simple moving averages (SMAs).

GBP/USD 30-minute chart

Bears broke below the 1.2600 figure. The market can slide down to 1.2560 and 1.2500. Resistance is at 1.2600 and 1.2650 level.

Additional key levels

GBP/USD

Overview
Today last price	1.2594
Today Daily Change	-0.0080
Today Daily Change %	-0.63
Today daily open	1.2674

Trends
Daily SMA20	1.2681
Daily SMA50	1.2874
Daily SMA100	1.2988
Daily SMA200	1.2941

Levels
Previous Daily High	1.2708
Previous Daily Low	1.2662
Previous Weekly High	1.2763
Previous Weekly Low	1.261
Previous Monthly High	1.3178
Previous Monthly Low	1.2559
Daily Fibonacci 38.2%	1.268
Daily Fibonacci 61.8%	1.2691
Daily Pivot Point S1	1.2654
Daily Pivot Point S2	1.2635
Daily Pivot Point S3	1.2608
Daily Pivot Point R1	1.2701
Daily Pivot Point R2	1.2728
Daily Pivot Point R3	1.2747

Author

Flavio Tosti

Independent Analyst

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