GBP/USD Technical Analysis: Cable trades near session’s highs above the 1.2900 handle

The cable closed the weekly opening gap at the start of the New York session.
The level to beat for bulls is the 1.2953 resistance.

Flavio Tosti Independent Analyst

GBP/USD daily chart

The market is starting December holding above the 1.2900 handle while trading above the main SMAs. The market in November consolidated the October gains in a triangle formation.

GBP/USD four-hour chart

The market is trading quietly above the main SMAs. As the underlying bias is bullish, the buyers will likely try to break above the 1.2953 resistance to reach the 1.2990 and 1.3025 levels on the way up, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

GBP/USD closed the Sunday opening gap while challenging the daily high. Immediate support is seen at the 1.2913 level. Further down lie the 1.2860 and 1.2832 price levels.

Additional key levels

GBP/USD

Overview
Today last price	1.2931
Today Daily Change	-0.0003
Today Daily Change %	-0.02
Today daily open	1.2934

Trends
Daily SMA20	1.2881
Daily SMA50	1.2718
Daily SMA100	1.2497
Daily SMA200	1.2701

Levels
Previous Daily High	1.2942
Previous Daily Low	1.2879
Previous Weekly High	1.2952
Previous Weekly Low	1.2827
Previous Monthly High	1.2986
Previous Monthly Low	1.2769
Daily Fibonacci 38.2%	1.2918
Daily Fibonacci 61.8%	1.2903
Daily Pivot Point S1	1.2895
Daily Pivot Point S2	1.2855
Daily Pivot Point S3	1.2831
Daily Pivot Point R1	1.2958
Daily Pivot Point R2	1.2982
Daily Pivot Point R3	1.3021

Author

Flavio Tosti

Independent Analyst

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