GBP/USD Technical Analysis: Hampered by resistance, aiming below 1.2600

Intraday action on GBP/USD remains underpinned by soft support from the 1.2600-12615 zone, and swings higher continue to fail to develop meaningful momentum as the Sterling continues to be cowed by Brexit headlines.

Joshua Gibson FXStreet

GBP/USD, 5-Minute

The past two weeks have seen the Cable break near-term consolidation to mark in a new 20-month low at 1.2477, and the bullish recovery saw stiff new resistance priced in at the previous support level of 1.2670.

GBP/USD, 30-Minute

The past two months sees the GBP/USD pairing stuck in a bearish cycle, accelerating out of the regular selling zone, and the bullish bounceback has seen the Cable return to a nominally bearish cycle as bidders get pushed back into the overarching bear-trend.

GBP/USD, 4-Hour

GBP/USD

Overview:
    Today Last Price: 1.2628
    Today Daily change: -37 pips
    Today Daily change %: -0.292%
    Today Daily Open: 1.2665
Trends:
    Previous Daily SMA20: 1.2746
    Previous Daily SMA50: 1.29
    Previous Daily SMA100: 1.2937
    Previous Daily SMA200: 1.3263
Levels:
    Previous Daily High: 1.2688
    Previous Daily Low: 1.2593
    Previous Weekly High: 1.284
    Previous Weekly Low: 1.2659
    Previous Monthly High: 1.3176
    Previous Monthly Low: 1.2723
    Previous Daily Fibonacci 38.2%: 1.2629
    Previous Daily Fibonacci 61.8%: 1.2651
    Previous Daily Pivot Point S1: 1.2609
    Previous Daily Pivot Point S2: 1.2554
    Previous Daily Pivot Point S3: 1.2515
    Previous Daily Pivot Point R1: 1.2704
    Previous Daily Pivot Point R2: 1.2743
    Previous Daily Pivot Point R3: 1.2798

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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