GBP/USD technical analysis: Cable rolling into the Asian session, sub-1.2480 resistance

GBP/USD ends Thursday near its lows well below 1.2480 resistance.
The levels to beat for bears are seen at 1.2435 and 1.2388, according to the Technical Confluences Indicator.

Flavio Tosti Independent Analyst

GBP/USD daily chart

Cable is trading in a bear trend below the main daily simple moving averages (DSMAs).

GBP/USD 4-hour chart

GBP/USD is trading below 1.2480 resistance and descending SMAs suggesting a negative bias in the medium term. Bears need a break below 1.2435 support to travel south towards 1.2388. Resistances are seen near 1.2480 and 1.2510, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2454
Today Daily Change	-0.0029
Today Daily Change %	-0.23
Today daily open	1.2483

Trends
Daily SMA20	1.2533
Daily SMA50	1.262
Daily SMA100	1.2847
Daily SMA200	1.2864

Levels
Previous Daily High	1.2522
Previous Daily Low	1.2427
Previous Weekly High	1.2579
Previous Weekly Low	1.2382
Previous Monthly High	1.2784
Previous Monthly Low	1.2506
Daily Fibonacci 38.2%	1.2486
Daily Fibonacci 61.8%	1.2463
Daily Pivot Point S1	1.2432
Daily Pivot Point S2	1.2382
Daily Pivot Point S3	1.2336
Daily Pivot Point R1	1.2528
Daily Pivot Point R2	1.2573
Daily Pivot Point R3	1.2624

Author

Flavio Tosti

Independent Analyst

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