GBP/USD technical analysis: Cable trading below 1.2230 ahead of the FOMC Minutes

  • GBP/USD is retracing the Brexit-related spike to 1.2292. 
  • The level to beat for bears is the 1.2200 support. 
  • The FOMC Minutes are scheduled at 18:00 GMT. 

GBP/USD daily chart


On the daily chart, the Cable is trading in a bear trend below the main daily simple moving averages (DSMAs). At the start of the day, GBP/USD jumped on reports of EU concession on the Irish backstop. The FOMC Minutes scheduled at 18:00 GMT can lead to some volatility on the currency pair. 


GBP/USD four-hour chart


GBP/USD is back into the 1.2200/1.2226 support zone. A break below 1.2200 can expose the 1.2130 level to the downside, according to the Technical Confluences Indicator.


GBP/USD 30-minute chart


The Sterling is trading below the 100 and 200 SMAs, suggesting a bearish bias in the near term. Resistances are seen at the 1.2255 and 1.2280 price levels, according to the Technical Confluences Indicator.

Additional key levels


Today last price 1.2223
Today Daily Change 0.0004
Today Daily Change % 0.03
Today daily open 1.2219
Daily SMA20 1.2376
Daily SMA50 1.2255
Daily SMA100 1.242
Daily SMA200 1.2718
Previous Daily High 1.2303
Previous Daily Low 1.2194
Previous Weekly High 1.2414
Previous Weekly Low 1.2205
Previous Monthly High 1.2583
Previous Monthly Low 1.1958
Daily Fibonacci 38.2% 1.2236
Daily Fibonacci 61.8% 1.2261
Daily Pivot Point S1 1.2174
Daily Pivot Point S2 1.213
Daily Pivot Point S3 1.2065
Daily Pivot Point R1 1.2283
Daily Pivot Point R2 1.2347
Daily Pivot Point R3 1.2392



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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD under pressure just above 1.1000

Despite easing demand for the greenback, the EUR/USD pair remained subdued, holding just above the 1.1000f figure. Speculative interest waiting for a catalyst.



GBP/USD surges on renewed Brexit hopes

The Sterling beat all of its rivals after Brexit Party’s leader, Nigel Farage, expressed support for Conservatives. Brexit deal coming post-elections?


USD/JPY trims losses, rises back above 109.00

The USD/JPY pair trimmed losses over the last hours amid a recovery of the US dollar and despite the decline in equity prices in Wall Street.


Gold rebounds from multi-month lows, trades around $1,455

After posting its largest weekly percentage drop of the year and erasing more than $50, the troy ounce of the precious metal remained under pressure on Monday with the XAU/USD pair slumping to its lowest level since early August at $1,452.

Gold News

Central bankers link the future to blockchain projects

The race towards the tokenization of sovereign currencies has begun a long time ago, but it finally enjoying its time in the sun. China has announced its intention to create an e-Yuan, and also in Europe, institutions are considering the matter.

Read more