GBP/USD technical analysis: Cable trading at daily lows after the London close

GBP/USD is losing steam at the very end of the week but remains bullish in the medium term.
The level to beat for buyers is the 1.2989 resistance.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD in October soared above its main daily simple moving averages (DMAs) and reached levels not seen since mid-May 2019. Buyers want a daily close above the 1.3000 handle and the October high at the 1.3013 level.

GBP/USD four-hour chart

GBP/USD is trading above the 1.2900 figure and its main SMAs on the four-hour chart, suggesting a bullish bias in the medium term. Buyers want a break of the 1.2989 resistance to open the doors to additional gains towards the 1.3024 level and the 1.3100 handle.

GBP/USD 30-minute chart

Sterling/Dollar is trading at daily lows after a dull London session. The market is challenging the 1.2934 support and the 100 SMA. The bias remains firmly bullish on the Pound and sellers will need to do more to regain control. A daily close below 1.2880 and the 200 SMA could be seen as a bearish sign. However, next week it will be interesting to see if the bulls can break the 1.2989 resistance.

Additional key levels

GBP/USD

Overview
Today last price	1.293
Today Daily Change	-0.0012
Today Daily Change %	-0.09
Today daily open	1.2942

Trends
Daily SMA20	1.2711
Daily SMA50	1.2479
Daily SMA100	1.2439
Daily SMA200	1.2713

Levels
Previous Daily High	1.2976
Previous Daily Low	1.2894
Previous Weekly High	1.3013
Previous Weekly Low	1.2787
Previous Monthly High	1.3013
Previous Monthly Low	1.2194
Daily Fibonacci 38.2%	1.2945
Daily Fibonacci 61.8%	1.2926
Daily Pivot Point S1	1.2898
Daily Pivot Point S2	1.2855
Daily Pivot Point S3	1.2816
Daily Pivot Point R1	1.2981
Daily Pivot Point R2	1.302
Daily Pivot Point R3	1.3063

Author

Flavio Tosti

Independent Analyst

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