- GBP/USD is in consolidation mode.
- Bulls need a breakout above 1.2750 to get out of the woods.
- Earlier in the London session, Industrial and Manufacturing production data disappointed weakening GBP.
GBP/USD daily chart
GBP/USD is consolidating the bear run seen in May. The recovery is for now capped at the 1.2750 resistance.
GBP/USD 4-hour chart
Cable is trading above the 50 and 100 SMA suggesting a potential bullish bias in the medium term.
GBP/USD 30-minute chart
Cable is trading in the 1.2650-1.2750 range. Bulls need a break above 1.2750 to reach 1.2800 while bears need a breakdown below 1.2650 to reach 1.2600 figure.
Additional key levels
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