GBP/USD technical analysis: Small intraday bounce drives Cable near 1.2141 resistance

GBP/USD is consolidating last week gains as the market trades near the 1.2141 resistance.
The levels to beat for bears are the 1.2122 and 1.2097 levels.

Flavio Tosti Independent Analyst

GBP/USD daily chart

The Cable is trading in a bear trend below its main daily simple moving averages (SMAs). The market is consolidating last week's modest advance.

GBP/USD 4-hour chart

GBP/USD is trading below 1.2141 resistance and the 100/200 SMAs suggesting a bearish bias in the medium term. The levels to beat for bears are 1.2122, followed by 1.2097 and 1.2065, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

GBP/USD is losing steam on Monday. Immediate resistances are seen at 1.2141, 1.2154 and the 1.2173 level, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2133
Today Daily Change	-0.0014
Today Daily Change %	-0.12
Today daily open	1.2147

Trends
Daily SMA20	1.2205
Daily SMA50	1.2441
Daily SMA100	1.2675
Daily SMA200	1.2797

Levels
Previous Daily High	1.2176
Previous Daily Low	1.2077
Previous Weekly High	1.2176
Previous Weekly Low	1.2015
Previous Monthly High	1.2706
Previous Monthly Low	1.2119
Daily Fibonacci 38.2%	1.2138
Daily Fibonacci 61.8%	1.2115
Daily Pivot Point S1	1.2091
Daily Pivot Point S2	1.2035
Daily Pivot Point S3	1.1992
Daily Pivot Point R1	1.219
Daily Pivot Point R2	1.2232
Daily Pivot Point R3	1.2288

Author

Flavio Tosti

Independent Analyst

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