GBP/USD Technical Analysis: Cable challenging daily lows near 1.2910 level

GBP/USD is trading at its lowest since the week started.
The level to beat for bears is the 1.2910 support.

Flavio Tosti Independent Analyst

GBP/USD daily chart

The pound is currently correcting last month’s rally in the 1.2800-1.3000 price zone. GBP/USD, in October, hit levels not seen since mid-May 2019. It is now easing from the November highs.

GBP/USD four-hour chart

GBP/USD is easing from the monthly highs while nearing the 1.2910 support level. A break below it could lead to further losses towards the 1.2890 and 1.2870 levels, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

The spot is trading at daily lows below its main SMAs, suggesting a bearish bias in the near term. Resistances are seen at the 1.2940, 1.2957 and 1.2985 price levels.

Additional key levels

GBP/USD

Overview
Today last price	1.2912
Today Daily Change	-0.0037
Today Daily Change %	-0.29
Today daily open	1.2949

Trends
Daily SMA20	1.2874
Daily SMA50	1.2634
Daily SMA100	1.2464
Daily SMA200	1.2703

Levels
Previous Daily High	1.2986
Previous Daily Low	1.2908
Previous Weekly High	1.2918
Previous Weekly Low	1.2785
Previous Monthly High	1.3013
Previous Monthly Low	1.2194
Daily Fibonacci 38.2%	1.2956
Daily Fibonacci 61.8%	1.2938
Daily Pivot Point S1	1.2909
Daily Pivot Point S2	1.2869
Daily Pivot Point S3	1.283
Daily Pivot Point R1	1.2988
Daily Pivot Point R2	1.3026
Daily Pivot Point R3	1.3066

Author

Flavio Tosti

Independent Analyst

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