GBP/USD technical analysis: Cable under mild pressure in the New York session, sub-1.2360 level


  • The Sterling is confined in the range of the last two days. 
  • The level to beat for bears is at 1.2313 support. 
 

GBP/USD daily chart

 
The Sterling is trading in a bear trend below the 100 and 200-day simple moving averages (SMAs). GBP/USD is stalling below the 1.2400 figure as the market is consolidating above the 50 SMA. 

GBP/USD four-hour chart

 
GBP/USD is having a hard time to pierce 1.2360 resistance. A daily close above this level is necessary to attract buying interest towards 1.2390 and 1.2440 resistance levels, according to the Technical Confluences Indicator
 
 

GBP/USD 30-minute chart

 
The Pound is trading below the main SMAs, suggesting bearish momentum in the near term. Bears might be looking for a break of the 1.2313 key support to reach 1.2262 and 1.2205 levels on the way down, according to the Technical Confluences Indicator. 
 

Additional key levels

GBP/USD

Overview
Today last price 1.2329
Today Daily Change -0.0025
Today Daily Change % -0.20
Today daily open 1.2354
 
Trends
Daily SMA20 1.2202
Daily SMA50 1.229
Daily SMA100 1.2533
Daily SMA200 1.2747
Levels
Previous Daily High 1.238
Previous Daily Low 1.2306
Previous Weekly High 1.2354
Previous Weekly Low 1.1958
Previous Monthly High 1.231
Previous Monthly Low 1.2015
Daily Fibonacci 38.2% 1.2352
Daily Fibonacci 61.8% 1.2334
Daily Pivot Point S1 1.2314
Daily Pivot Point S2 1.2273
Daily Pivot Point S3 1.224
Daily Pivot Point R1 1.2388
Daily Pivot Point R2 1.2421
Daily Pivot Point R3 1.2462

 

 

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 extends its decline amid upbeat US consumer confidence

EUR/USD is extending its falls toward 1.1050 after US Consumer Sentiment beat expectations with 92 points. Earlier, retail sales met expectations. 

EUR/USD News

GBP/USD rises above 1.24 as Brexit uncertainty prevails

GBP/USD hits a 6-week high above 1.24. The DUP dismissed reports that it would accept special treatment for the province as a solution to the backstop. The EU is ready to grant a Brexit extension as Johnson faces growing criticism.

GBP/USD News

USD/JPY: holding in higher ground ahead of US Retail Sales

Risk appetite dominates the financial world, weighing on safe-haven assets. US Retail Sales and the preliminary Michigan Consumer Sentiment Index up next. USD/JPY bullish case prevails, 107.45 critical Fibonacci support.

USD/JPY News

Gold remains on track to end week below $1,500

The troy ounce of the precious metal rose above $1,500 but failed to preserve its strength as the upbeat market sentiment made it difficult for the safe-haven gold to find demand. 

Gold News

The good, the bad and the extremely ugly crypto

XRP is in a borderline situation and with little room for doubt. Bitcoin demonstrates its power and positions itself as the emerging leader. Ethereum is in an intermediate situation, far from risk but also from opportunity.

Read more

Forex MAJORS

Cryptocurrencies

Signatures