GBP/USD technical analysis: Cable tumbles towards 1.2200 handle on Brexit uncertainties

GBP/USD takes a dive below the 1.2300 handle.
The level to beat for sellers is the 1.2200 figure.
Brexit: Three scenarios and GBP/USD price targets as B-Day approaches.

Flavio Tosti Independent Analyst

GBP/USD daily chart

On the daily chart, the Sterling is trading in a bear trend below its main daily simple moving averages (DSMAs). The Pound is on the back foot as pessimism over Brexit is taking over.

GBP/USD four-hour chart

GBP/USD is trading below the main SMAs on the four-hour chart, suggesting a bearish bias in the medium term. The spot is challenging the 1.2224/20 support zone. A break below it could lead to further losses towards 1.2114 price level, according to the Technical Confluences Indicator.

GBP/USD 30-minute

The Sterling is trading below its main SMAs, suggesting a bearish bias in the short term. Immediate resistances are seen at 1.2253, 1.2276 and 1.2305 price levels, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2219
Today Daily Change	-0.0073
Today Daily Change %	-0.59
Today daily open	1.2292

Trends
Daily SMA20	1.2382
Daily SMA50	1.2254
Daily SMA100	1.2425
Daily SMA200	1.2721

Levels
Previous Daily High	1.2337
Previous Daily Low	1.2287
Previous Weekly High	1.2414
Previous Weekly Low	1.2205
Previous Monthly High	1.2583
Previous Monthly Low	1.1958
Daily Fibonacci 38.2%	1.2306
Daily Fibonacci 61.8%	1.2318
Daily Pivot Point S1	1.2273
Daily Pivot Point S2	1.2255
Daily Pivot Point S3	1.2223
Daily Pivot Point R1	1.2323
Daily Pivot Point R2	1.2355
Daily Pivot Point R3	1.2373

Author

Flavio Tosti

Independent Analyst

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