Home GBP/USD technical analysis: Cable declining on Fed’s Bullard comment, eyes on Powell
FXStreet News

GBP/USD technical analysis: Cable declining on Fed’s Bullard comment, eyes on Powell

FX Street
Published date:
  • GBP/USD is declining beloz the 1.2800 resistance.
  • Support is seen at 1.2659  and 1.2603  according to the Technical Confluences Indicator.  

Less dovish than expected comments from Fed’s Bullard send the USD up across the board. The market is now going to focus on Fed’s Powell at 17.00 GMT.

GBP/USD daily chart

GBP/USD is in a bear trend below its main daily simple moving averages (DSMAs). The market is finding resistance below the 1.2800 handle and the 50 SMA.  

GBP/USD 4-hour chart

Cable is trading below its 200 SMA suggesting bearish momentum in the near term. The next supports are at 1.2682, 1.2659 and 1.2603 according to the Technical Confluences Indicator.


GBP/USD 30-minute chart

GBP/USD is trading below its main SMA suggesting a potential correction down in the near term.  Resistances are seen at 1.2708, 1.2750 and 1.2800 levels according to the Technical Confluences Indicator.


Additional key levels

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2026