GBP/USD Technical Analysis: Cable trapped in a wedge pattern

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is consolidating below 1.3100 and the 50-day simple moving average (SMA).

GBP/USD 4-hour chart

GBP/USD is trapped in a wedge pattern.

GBP/USD 30-minute chart

As mentioned yesterday, the market found some support at the 1.3040 level.
The market might remain in range between 1.3040 and 1.3080 in the New York session.
Bulls need a break of 1.3080 to reach 1.3120 level while bears need to break below 1.3040 to reach 1.3000 the figure.

Additional key levels

GBP/USD

Overview
Today last price	1.3053
Today Daily Change	0.0004
Today Daily Change %	0.03
Today daily open	1.3049

Trends
Daily SMA20	1.3109
Daily SMA50	1.3096
Daily SMA100	1.295
Daily SMA200	1.297

Levels
Previous Daily High	1.3112
Previous Daily Low	1.3043
Previous Weekly High	1.3133
Previous Weekly Low	1.303
Previous Monthly High	1.3384
Previous Monthly Low	1.296
Daily Fibonacci 38.2%	1.3069
Daily Fibonacci 61.8%	1.3086
Daily Pivot Point S1	1.3024
Daily Pivot Point S2	1.2999
Daily Pivot Point S3	1.2955
Daily Pivot Point R1	1.3093
Daily Pivot Point R2	1.3137
Daily Pivot Point R3	1.3162

Author

Flavio Tosti

Independent Analyst

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