GBP/USD technical analysis: Cable swinging back and forth, ends the week virtually unchanged

GBP/USD is ending Friday and the week virtually unchanged.
The level to beat for sellers is seen at the 1.2275 support.

Flavio Tosti Independent Analyst

GBP/USD daily chart

The Pound is trading in a bear trend below the 100 and 200-day simple moving averages (DSMAs). The market is currently trapped between the 50 SMA at 1.2252 and the 1.2400 figure.

GBP/USD four-hour chart

GBP/USD is retracing the bull spike to the 1.2400 figure as the market is having swings in both directions. However, the downside seems to prevail as a break below1.2305/1.2275 can lead to 1.2224 support level, according to the Technical Confluences Indicator.

GBP/USD 30-minute

The Pound/US Dollar exchange rate is challenging the 1.2340 resistance. If broken, the 1.2360 level is likely the next level to watch. Further up lie 1.2412 resistance, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2334
Today Daily Change	0.0003
Today Daily Change %	0.02
Today daily open	1.2331

Trends
Daily SMA20	1.2383
Daily SMA50	1.2253
Daily SMA100	1.2433
Daily SMA200	1.2725

Levels
Previous Daily High	1.2414
Previous Daily Low	1.2266
Previous Weekly High	1.2504
Previous Weekly Low	1.2271
Previous Monthly High	1.2583
Previous Monthly Low	1.1958
Daily Fibonacci 38.2%	1.2357
Daily Fibonacci 61.8%	1.2322
Daily Pivot Point S1	1.226
Daily Pivot Point S2	1.2189
Daily Pivot Point S3	1.2112
Daily Pivot Point R1	1.2408
Daily Pivot Point R2	1.2485
Daily Pivot Point R3	1.2556

Author

Flavio Tosti

Independent Analyst

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