GBP/USD technical analysis: The Cable is sidelined near the 1.2340 level


  • The Sterling is consolidating its gains for the third consecutive day.
  • The level to beat for bears is at 1.2313 support. 
 

GBP/USD daily chart

 
The Pound is trading in a bear trend below the 100 and 200-day simple moving averages (SMAs). GBP/USD is consolidating its advance below the 1.2400 figure.

GBP/USD four-hour chart

 
GBP/USD is parked just above 1.2313 support as the market is trading above its main SMAs. Bulls need a daily close above the 1.2390 level to attract buying interest toward 1.2440 resistance levels, according to the Technical Confluences Indicator
 
 

GBP/USD 30-minute chart

 
The Pound is trading just below the main SMAs, suggesting bearish momentum in the near term. Sellers are looking for a clear break of the 1.2313 key support to reach 1.2262 and 1.2205 levels to the downside, according to the Technical Confluences Indicator. 
 

Additional key levels

GBP/USD

Overview
Today last price 1.2328
Today Daily Change -0.0026
Today Daily Change % -0.21
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 tension remains elevated ahead of the Fed

EUR/USD is trading above 1.1050, in a narrow range ahead of the all-important Fed decision. Chair Powell is set to cut rates but signal no further stimulus is on the cards.

EUR/USD News

GBP/USD extends its falls to 1.2450 amid weak UK inflation, Brexit impasse

GBP/USD has dropped to around 1.2450 as UK headline CPI missed with 1.7% in August. Brexit negotiations remain stuck according to Chief EU negotiator Barnier. The Fed decision is eyed.

GBP/USD News

USD/JPY holds on to recovery gains above 108.00 ahead of Fed

Not only upbeat trade numbers from Japan but upbeat trade/political headlines also help the USD/JPY pair to remain firm around 108.20 prior to Wednesday’s European session. Focus on FOMC decision.

USD/JPY News

Gold seesaws around $1,500 with all eyes on FOMC

With the global traders on a wait and see approach ahead of the key event, Gold offers fewer moves while taking rounds to $1,500 during Wednesday’s Asian session. Also supporting the bulls were positive statistics from the US and the Eurozone.

Gold News

Forex Today: Fed set to trigger high volatility, oil falls, altcoins advance

Tension is mounting ahead of the Federal Reserve decision later today. Economists expect a 25 basis point rate cut amid slowing global growth and investment. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures