GBP/USD technical analysis: Intraday rollercoaster settles near the 1.2135 level

GBP/USD bear trend remains for the moment intact.
The levels to beat for bears are seen at 1.2135 and 1.2082 supports.

Flavio Tosti Independent Analyst

GBP/USD daily chart

Cable is under bearish pressure near multi-month lows as the market is trading below its main daily simple moving averages (DSMAs).

GBP/USD 4-hour chart

GBP/USD is trading below its main SMAs, suggesting bearish momentum in the near term. Bears attempted to break below the 1.2116 support in the New York session. A clear break below this level is necessary for the market to depreciate towards 1.2082, 1.2060, 1.2035 and the 1.2000 figure, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

Cable is volatile this Thursday as the market had a sharp reaction up from the daily lows. Spot is settling in the 1.2135-1.2154 range as the London session comes to an end. Immediate resistance can be seen near 1.2154, 1.2186 and the 1.2212 levels.

Additional key levels

GBP/USD

Overview
Today last price	1.2137
Today Daily Change	-0.0005
Today Daily Change %	-0.04
Today daily open	1.2142

Trends
Daily SMA20	1.2351
Daily SMA50	1.2523
Daily SMA100	1.2749
Daily SMA200	1.2831

Levels
Previous Daily High	1.2192
Previous Daily Low	1.2121
Previous Weekly High	1.2384
Previous Weekly Low	1.208
Previous Monthly High	1.2706
Previous Monthly Low	1.2119
Daily Fibonacci 38.2%	1.2148
Daily Fibonacci 61.8%	1.2165
Daily Pivot Point S1	1.2111
Daily Pivot Point S2	1.2081
Daily Pivot Point S3	1.204
Daily Pivot Point R1	1.2182
Daily Pivot Point R2	1.2223
Daily Pivot Point R3	1.2253

Author

Flavio Tosti

Independent Analyst

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