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GBP/USD Technical Analysis: Cable tumbles to daily lows as bears want a break below the 1.2800 figure

GBP/USD daily chart

  • GBP/USD is trading in a bear trend below its major simple moving averages (SMAs).  
  • GBP/USD is trading close to the November lows as technical indicators remain weak.

GBP/USD 4-hour chart

  • GBP/USD is trading below its main SMAs while the RSI and Stochastic indicator are below the 50 lines. The MACD is weakening.  
  • Bears want a test of the November low at 1.2700 figure.  

GBP/USD 30-minute chart

  • GBP/USD found support just above the 1.2800 figure ad the market is trading below its main SMAs.
  • Technical indicators are weak.  
  • A break of the 1.2800 level should lead  to a drop to the  1.2720 level.

Additional key levels

GBP/USD

Overview:
       Last Price:  1.2807
       Daily change:  -73  pips
       Daily change:  -0.567%
       Daily Open:  1.288
Trends:
       Daily SMA20:  1.2904
       Daily SMA50:  1.3012
       Daily SMA100:  1.3004
       Daily SMA200:  1.3353
Levels:
       Daily High:  1.2928
       Daily Low:  1.277
       Weekly High:  1.3074
       Weekly Low:  1.2724
       Monthly High:  1.326
       Monthly Low:  1.2696
       Daily Fibonacci 38.2%:  1.2868
       Daily Fibonacci 61.8%:  1.283
       Daily Pivot Point S1:  1.279
       Daily Pivot Point S2:  1.2701
       Daily Pivot Point S3:  1.2631
       Daily Pivot Point R1:  1.2949
       Daily Pivot Point R2:  1.3018
       Daily Pivot Point R3:  1.3108

 

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