fxs_header_sponsor_anchor

News

GBP/USD technical analysis: Cable running out of steam below the 1.2500 handle

  • GBP is among the worst performers this Monday. 
  • The level to beat for sellers is the 1.2417 support level.
 

GBP/USD daily chart

 
The Sterling is trading is in a downtrend below the 100 and 200-day simple moving averages (SMAs). The market is currently rejecting the 1.2500 handle and the 100 SMA. 

GBP/USD four-hour chart

 
 
GBP/USD is stabilizing above the 1.2417 support while trading below the 50 SMA. A downside break of 1.2417 can expose 1.2340 and 1.2317 price levels, according to the Technical Confluences Indicator

GBP/USD 30-minute chart

 
 
The Pound is trading below its main SMAs, suggesting a bearish momentum in the near term. Immediate resistance can be at 1.2560/1.2465 zone followed by 1.2510 price level, according to the Technical Confluences Indicator. 

Additional key levels

 

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.