GBP/USD technical analysis: Cable rolling into the Asian session near the 1.2478 level

GBP/USD is capped by the 1.2510 resistance as the bear trend remains intact.
The levels to beat for bears are seen at 1.2478 and 1.2435, according to the Technical Confluences Indicator.

Flavio Tosti Independent Analyst

GBP/USD daily chart

Cable is in a bear trend below the main daily simple moving averages (DSMAs). The found resistance near 1.2510 resistance.

GBP/USD 4-hour chart

GBP/USD is trading below downward sloping 100/200 SMAs suggesting a negative bias in the medium term. Bears need a break below 1.2478 support to travel south towards 1.2435, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

GBP/USD is challenging 1.2478 support and the 200 SMA. In the New York session, the market found resistance near the 1.2510 level suggesting that the main bear trend is still intact. Immediate resistances can be seen at 1.2510 and 1.2544.

Additional key levels

GBP/USD

Overview
Today last price	1.2481
Today Daily Change	0.0043
Today Daily Change %	0.35
Today daily open	1.2438

Trends
Daily SMA20	1.2543
Daily SMA50	1.2627
Daily SMA100	1.2853
Daily SMA200	1.2868

Levels
Previous Daily High	1.2483
Previous Daily Low	1.2418
Previous Weekly High	1.2579
Previous Weekly Low	1.2382
Previous Monthly High	1.2784
Previous Monthly Low	1.2506
Daily Fibonacci 38.2%	1.2443
Daily Fibonacci 61.8%	1.2458
Daily Pivot Point S1	1.241
Daily Pivot Point S2	1.2381
Daily Pivot Point S3	1.2344
Daily Pivot Point R1	1.2475
Daily Pivot Point R2	1.2511
Daily Pivot Point R3	1.254

Author

Flavio Tosti

Independent Analyst

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