GBP/USD technical analysis: Cable trades at daily highs challenging the 1.2440 resistance level

GBP/USD takes a breather and bounces from the 1.2400 level.
Resistances are seen at 1.2440 and 1.2480, according to the Technical Confluences Indicator.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is trading at 27-month lows as the market is having a small rebound above the 1.2400 figure.

GBP/USD 4-hour chart

Cable is challenging the 1.2440 resistance area. If bulls manage to break above 1.2440 the next resistance can be seen at 1.2480, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

GBP/USD is trading between the 50 and 100 SMAs suggesting a correction in the medium term. Supports can be seen near 1.2414 and 1.2385.

Additional key levels

GBP/USD

Overview
Today last price	1.2441
Today Daily Change	0.0034
Today Daily Change %	0.27
Today daily open	1.2407

Trends
Daily SMA20	1.2599
Daily SMA50	1.2677
Daily SMA100	1.2891
Daily SMA200	1.2885

Levels
Previous Daily High	1.2522
Previous Daily Low	1.2396
Previous Weekly High	1.258
Previous Weekly Low	1.244
Previous Monthly High	1.2784
Previous Monthly Low	1.2506
Daily Fibonacci 38.2%	1.2444
Daily Fibonacci 61.8%	1.2474
Daily Pivot Point S1	1.2361
Daily Pivot Point S2	1.2316
Daily Pivot Point S3	1.2235
Daily Pivot Point R1	1.2487
Daily Pivot Point R2	1.2568
Daily Pivot Point R3	1.2613

Author

Flavio Tosti

Independent Analyst

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