GBP/USD technical analysis: Cable collapse to its lowest point since March 2017 as Brexit no-deal looms

GBP/USD hits its lowest since March 2017.
The levels to beat for bears are seen at 1.2266 and 1.2189, according to the Technical Confluences Indicator.

Flavio Tosti Independent Analyst

GBP/USD crashes below 1.2300 as Boris Johnson turbo-charges no-deal Brexit

GBP/USD daily chart

Cable started the week losing more than a 100 pips falling to its lowest since March 2017.

GBP/USD 4-hour chart

GBP/USD is challenging the 1.2266 support at fresh multi-month lows. Bears want to reach 1.2189 on the way down.

GBP/USD 30-minute chart

Cable has been falling like a rock. Resistances are seen near 1.2285, 1.2304, 1.2336 and 1.2381, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2246
Today Daily Change	-0.0136
Today Daily Change %	-1.10
Today daily open	1.2382

Trends
Daily SMA20	1.2506
Daily SMA50	1.2606
Daily SMA100	1.2834
Daily SMA200	1.2858

Levels
Previous Daily High	1.2464
Previous Daily Low	1.2376
Previous Weekly High	1.2522
Previous Weekly Low	1.2376
Previous Monthly High	1.2784
Previous Monthly Low	1.2506
Daily Fibonacci 38.2%	1.2409
Daily Fibonacci 61.8%	1.243
Daily Pivot Point S1	1.2351
Daily Pivot Point S2	1.232
Daily Pivot Point S3	1.2263
Daily Pivot Point R1	1.2438
Daily Pivot Point R2	1.2495
Daily Pivot Point R3	1.2526

Author

Flavio Tosti

Independent Analyst

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