GBP/USD Technical Analysis: Cable keeps ranging below the 1.2900 handle

GBP/USD remains sidelined in the New York session.
The level to beat for bears is the 1.2834 support.

Flavio Tosti Independent Analyst

GBP/USD daily chart

The pound is currently correcting last month’s rally in the 1.2800-1.3000 price zone. GBP/USD, in October, hit levels not seen since mid-May 2019.

GBP/USD four-hour chart

GBP/USD is trading in a tight range between the 1.2834 support and the 1.2874 resistance. The spot is capped by downward sloping 50 and 100 SMAs suggesting that the spot might continue to drift lower in the medium term.

GBP/USD 30-minute chart

The market is keeping the weekly range theme intact. If the bulls give up, the spot can slide towards 1.2790 support. Resistance is seen at the 1.2874/1.2900 zone, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2837
Today Daily Change	-0.0016
Today Daily Change %	-0.12
Today daily open	1.2853

Trends
Daily SMA20	1.2878
Daily SMA50	1.2598
Daily SMA100	1.2457
Daily SMA200	1.2703

Levels
Previous Daily High	1.2865
Previous Daily Low	1.2821
Previous Weekly High	1.2943
Previous Weekly Low	1.2769
Previous Monthly High	1.3013
Previous Monthly Low	1.2194
Daily Fibonacci 38.2%	1.2848
Daily Fibonacci 61.8%	1.2838
Daily Pivot Point S1	1.2828
Daily Pivot Point S2	1.2803
Daily Pivot Point S3	1.2784
Daily Pivot Point R1	1.2871
Daily Pivot Point R2	1.289
Daily Pivot Point R3	1.2915

Author

Flavio Tosti

Independent Analyst

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