GBP/USD technical analysis: The Cable is clinging to multi-week tops, above 1.2460


  • The Sterling bulls are keeping the pressure on into the end of the week.
  • The level to beat for bulls is the 1.2464/77 resistance zone.
 

GBP/USD daily chart

 
The Pound is trading in a bear trend below the 100 and 200-day simple moving averages (SMAs). However, in August and September, the market has been rebounding sharply. 

GBP/USD four-hour chart

 
The Sterling is trading well above the main SMAs as the market spiked up to the 1.2464/77 resistance zone. A break above this zone can open the doors for further continuation up towards 1.2520 and 1.2594 resistances, according to the Technical Confluences Indicator

GBP/USD 30-minute chart

 
The Sterling is pressuring the weekly highs well above the main SMAs. Support is seen at 1.2405, 1.2355 and 1.2322, according to the Technical Confluences Indicator. 
 

Additional key levels

GBP/USD

Overview
Today last price 1.2476
Today Daily Change 0.0142
Today Daily Change % 1.15
Today daily open 1.2334
 
Trends
Daily SMA20 1.2228
Daily SMA50 1.228
Daily SMA100 1.2521
Daily SMA200 1.2743
Levels
Previous Daily High 1.2368
Previous Daily Low 1.2283
Previous Weekly High 1.2354
Previous Weekly Low 1.1958
Previous Monthly High 1.231
Previous Monthly Low 1.2015
Daily Fibonacci 38.2% 1.2336
Daily Fibonacci 61.8% 1.2316
Daily Pivot Point S1 1.2289
Daily Pivot Point S2 1.2244
Daily Pivot Point S3 1.2204
Daily Pivot Point R1 1.2373
Daily Pivot Point R2 1.2413
Daily Pivot Point R3 1.2458

 

 

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