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. 
 

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

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News


Latest Forex News

Editors’ Picks

GBP/USD: Bears eye 1.25 as disappointing UK GDP knocks off yields

GBP/USD extends losses towards 1.2500, as the UK GDP disappointment weighs negatively on the 2-year Gilt yields. Broad US dollar strength amid risk-off mood also adds to the bearish pressure on the cable. 

GBP/USD News

EUR/USD under pressure below 1.1350 amid risk-aversion

EUR/USD remains pressured below 1.1350, as US dollar trades firmer amid broad risk-aversion. The German ZEW Survey to show signs of an economic turnaround. Heightened expectations for an EU fiscal stimulus plan could buoy the shared currency. 

EUR/USD News

Gold: $1796 is the level to beat for the XAU bears

Gold is trying hard to recover ground above the $1800 mark, as the US dollar continues to benefit from broad risk-aversion amid looming coronavirus risks. Let’s see how it is positioned ahead of the critical US CPI release.

Gold News

Forex Today: US dollar seizes control as risk aversion returns, a busy docket ahead

Broad US dollar strength extended into Asia, as risk-averse market conditions persisted amid intensifying coronavirus fears and US-China tensions. The Asian equities followed the late sell-off on Wall Street while the US stock futures struggled with its recovery.

Read more

WTI recovers from intraday low under $40.00 ahead of API inventories

WTI’s pullback from $39.30 fails to defy a two-day losing streak. China’s sustained increase in oil imports confronts chatter of easing output cuts. US inflation data, API stockpiles and American earnings are in the spotlight.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures