GBP/USD technical analysis: Cable rolling into the Asian session below the 1.2900 handle

Brexit optimism sent GBP/USD on a rollercoaster this Tuesday. However, the Currency pair is about to end the day virtually unchanged.
Breaking: UK election will be 12 Dec (GBP positive).

Flavio Tosti Independent Analyst

GBP/USD daily chart

In October, the Sterling spiked up above its main daily simple moving averages (DMAs) and reached levels not seen since mid-May 2019. Breaking: UK election will be 12 Dec (GBP positive).

GBP/USD four-hour chart

GBP/USD is ranging below the 1.2900 figure and the 50 SMA. Once again, the spot failed at the 1.2880 resistance near the 50 SMA. The market will need to surpass that level for a retest of the 1.2950/1.3000 resistance zone, 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 1.2850 and 1.2815, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2868
Today Daily Change	0.0008
Today Daily Change %	0.06
Today daily open	1.286

Trends
Daily SMA20	1.2622
Daily SMA50	1.2436
Daily SMA100	1.2433
Daily SMA200	1.2715

Levels
Previous Daily High	1.2878
Previous Daily Low	1.2811
Previous Weekly High	1.3013
Previous Weekly Low	1.2787
Previous Monthly High	1.2583
Previous Monthly Low	1.1958
Daily Fibonacci 38.2%	1.2852
Daily Fibonacci 61.8%	1.2836
Daily Pivot Point S1	1.2822
Daily Pivot Point S2	1.2783
Daily Pivot Point S3	1.2755
Daily Pivot Point R1	1.2888
Daily Pivot Point R2	1.2916
Daily Pivot Point R3	1.2955

Author

Flavio Tosti

Independent Analyst

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