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. 

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

 

 

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: positive mood could prevent the collapse

The shared currency has remained under selling pressure on Friday, amid mounting speculation the ECB will announce a larger-than-anticipated stimulus package next September. EUR/USD capped by a Fibonacci resistance at 1.1110, yearly low at risk.

EUR/USD News

GBP/USD: economic disruption on a no-deal Brexit to weigh on Sterling

The GBP/USD pair has closed the week with gains, a handful of pips below the 1.2150 level. The Pound advanced for a third consecutive day, helped by some headlines indicating that Jeremy Corbyn, has been in talks with the Scottish National Party.

GBP/USD News

USD/JPY: short-term advance to be capped by long-term jitters

The USD/JPY has recovered some ground these last few days, to close the week at 106.35. Still, it posted a lower low and a lower high when compared to the previous week, as the Yen benefited from its safe-haven condition on mounting concerns about a US recession. 

USD/JPY News

Gold gives back territory towards a 23.6% retracement

Gold prices were a touch lower by the end of the week, falling -0.68% having travelled between a high of $1,528.00 to a low of $1,503.87, ending the NY session around $1,513. 

Gold News

Four Signs of A Bear Market

I am a believer that the Universe gives you signs. That may sound a bit crazy, but these three charts are three more signs of a bear market. The top chart is the GLD exchange traded fund.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •