Wed. Oct 23rd, 2019

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GBP/USD technical analysis: Cable challenging weekly lows near 1.2670 support

GBPUSD


  • GBP/USD is challenging the weekly lows below the 1.2700 figure.
  • The level to beat for bears is 1.2670 support.

GBP/USD daily chart

GBP/USD is in a bear trend below its main daily simple moving averages (DSMAs). The market is challenging the weekly low below the 1.2700 figure.

GBP/USD 4-hour chart

Cable is trading just below the 200 SMA suggesting potential weakness in the medium term. The level to beat for bears is 1.2659 support. If broken 1.2603 can become the next target for sellers, according to the Technical Confluences Indicator.


GBP/USD 30-minute chart

GBP/USD is challenging 1.2670 support while below its main SMAs suggesting a potential correction down in the near term. Resistances are seen at 1.2706, 1.2750 and 1.2800 levels according to the Technical Confluences Indicator.


Additional key levels

GBP/USD

OVERVIEW
Today last price1.267
Today Daily Change-0.0019
Today Daily Change %-0.15
Today daily open1.2689

TRENDS
Daily SMA201.267
Daily SMA501.2801
Daily SMA1001.295
Daily SMA2001.2923
LEVELS
Previous Daily High1.2708
Previous Daily Low1.2663
Previous Weekly High1.275
Previous Weekly Low1.2506
Previous Monthly High1.3178
Previous Monthly Low1.2559
Daily Fibonacci 38.2%1.2691
Daily Fibonacci 61.8%1.268
Daily Pivot Point S11.2665
Daily Pivot Point S21.2641
Daily Pivot Point S31.262
Daily Pivot Point R11.271
Daily Pivot Point R21.2732
Daily Pivot Point R31.2756

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