GBP/USD Technical Analysis: Cable trades near session’s highs above the 1.2900 handle


  • The cable closed the weekly opening gap at the start of the New York session.
  • The level to beat for bulls is the 1.2953 resistance.
   

 

GBP/USD daily chart

 
The market is starting December holding above the 1.2900 handle while trading above the main SMAs. The market in November consolidated the October gains in a triangle formation.
 

GBP/USD four-hour chart

 
The market is trading quietly above the main SMAs. As the underlying bias is bullish, the buyers will likely try to break above the 1.2953 resistance to reach the 1.2990 and 1.3025 levels on the way up, according to the Technical Confluences Indicator

GBP/USD 30-minute chart

 
GBP/USD closed the Sunday opening gap while challenging the daily high. Immediate support is seen at the 1.2913 level. Further down lie the 1.2860 and 1.2832 price levels.
  

Additional key levels

GBP/USD

Overview
Today last price 1.2931
Today Daily Change -0.0003
Today Daily Change % -0.02
Today daily open 1.2934
 
Trends
Daily SMA20 1.2881
Daily SMA50 1.2718
Daily SMA100 1.2497
Daily SMA200 1.2701
 
Levels
Previous Daily High 1.2942
Previous Daily Low 1.2879
Previous Weekly High 1.2952
Previous Weekly Low 1.2827
Previous Monthly High 1.2986
Previous Monthly Low 1.2769
Daily Fibonacci 38.2% 1.2918
Daily Fibonacci 61.8% 1.2903
Daily Pivot Point S1 1.2895
Daily Pivot Point S2 1.2855
Daily Pivot Point S3 1.2831
Daily Pivot Point R1 1.2958
Daily Pivot Point R2 1.2982
Daily Pivot Point R3 1.3021

 

 

Share: Feed news

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended content

Editors’ Picks

AUD/USD: A tough barrier remains around 0.6800

AUD/USD: A tough barrier remains around 0.6800

AUD/USD failed to maintain the earlier surpass of the 0.6800 barrier, eventually succumbing to the late rebound in the Greenback following the Fed’s decision to lower its interest rates by50 bps.

AUD/USD News
EUR/USD still targets the 2024 peaks around 1.1200

EUR/USD still targets the 2024 peaks around 1.1200

EUR/USD added to Tuesday’s losses after the post-FOMC rebound in the US Dollar prompted the pair to give away earlier gains to three-week highs in the 1.1185-1.1190 band.

EUR/USD News
Gold surrenders gains and drops to weekly lows near $2,550

Gold surrenders gains and drops to weekly lows near $2,550

Gold prices reverses the initial uptick to record highs around the $$2,600 per ounce troy, coming under renewed downside pressure and revisiting the $2,550 zone amidst the late recovery in the US Dollar.

Gold News
Australian Unemployment Rate expected to hold steady at 4.2% in August

Australian Unemployment Rate expected to hold steady at 4.2% in August

The Australian Bureau of Statistics will release the monthly employment report at 1:30 GMT on Thursday. The country is expected to have added 25K new positions in August, while the Unemployment Rate is foreseen to remain steady at 4.2%.

Read more
Ethereum could rally to $2,817 following Fed's 50 bps rate cut

Ethereum could rally to $2,817 following Fed's 50 bps rate cut

Ethereum (ETH) is trading above $2,330 on Wednesday as the market is recovering following the Federal Reserve's (Fed) decision to cut interest rates by 50 basis points. Meanwhile, Ethereum exchange-traded funds (ETF) recorded $15.1 million in outflows.

Read more
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

Forex MAJORS

Cryptocurrencies

Signatures