GBP/USD technical analysis: Cable rising to weekly highs near 1.2570 resistance

GBP/USD is challenging 1.2570 resistance and Thursday’s high.
Support is seen at 1.2538 and 1.2485 according to the Technical Confluences Indicator.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is in a bear trend below its main daily simple moving averages (DSMAs). The market is in correction mode above the 1.2500 figure.

GBP/USD 4-hour chart

GBP/USD is challenging the 1.2570 resistance. A break above it could lead to 1.2617, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

GBP/USD is trading above its main SMAs suggesting bullish momentum in the near term. Support is seen at 1.2538 and 1.2485, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2561
Today Daily Change	0.0040
Today Daily Change %	0.32
Today daily open	1.2521

Trends
Daily SMA20	1.2676
Daily SMA50	1.2789
Daily SMA100	1.2945
Daily SMA200	1.2918

Levels
Previous Daily High	1.2572
Previous Daily Low	1.2489
Previous Weekly High	1.2706
Previous Weekly Low	1.2481
Previous Monthly High	1.2784
Previous Monthly Low	1.2506
Daily Fibonacci 38.2%	1.254
Daily Fibonacci 61.8%	1.2521
Daily Pivot Point S1	1.2482
Daily Pivot Point S2	1.2444
Daily Pivot Point S3	1.24
Daily Pivot Point R1	1.2565
Daily Pivot Point R2	1.261
Daily Pivot Point R3	1.2648

Author

Flavio Tosti

Independent Analyst

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