GBP/USD Technical Analysis: Cable moving down in slow motion as 1.2720 is the next target


GBP/USD daily chart

  • GBP/USD is trading in a bear trend below its main simple moving averages (SMAs). 
  • GBP/USD is trading near November lows as technical indicators are weak.

GBP/USD 4-hour chart

  • The 1.2800 figure is acting as resistance. 
  • Technical indicators are weak.

GBP/USD 30-minute chart

  • GBP/USD has been moving slowly in the last three sessions. 
  • GBP/USD is below its main SMAs while technical indicators are bearish. 
  • The next target is likely the 1.2720 level. A break above 1.2880 might invalidate the current bearish pressure.

Additional key levels at a glance:
 

GBP/USD

Overview:
    Last Price: 1.2785
    Daily change: 0.0 pips
    Daily change: 0.00%
    Daily Open: 1.2785
Trends:
    Daily SMA20: 1.2907
    Daily SMA50: 1.3023
    Daily SMA100: 1.3012
    Daily SMA200: 1.3364
Levels:
    Daily High: 1.2884
    Daily Low: 1.2776
    Weekly High: 1.3074
    Weekly Low: 1.2724
    Monthly High: 1.326
    Monthly Low: 1.2696
    Daily Fibonacci 38.2%: 1.2817
    Daily Fibonacci 61.8%: 1.2843
    Daily Pivot Point S1: 1.2747
    Daily Pivot Point S2: 1.2708
    Daily Pivot Point S3: 1.2639
    Daily Pivot Point R1: 1.2854
    Daily Pivot Point R2: 1.2922
    Daily Pivot Point R3: 1.2961

 

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