Home GBP/USD technical analysis: Cable trading at daily lows correcting Fed’s Williams inspired gains
FXStreet News

GBP/USD technical analysis: Cable trading at daily lows correcting Fed’s Williams inspired gains

FX Street
Published date:
  • GBP/USD is correcting parts  of Fed’s  Willams inspired gains made on Thursday.
  • The level to beat for bears are at 1.2509 and 1.2444, according to the Technical Confluences Indicator.

GBP/USD daily chart

GBP/USD is currently correcting Fed’s Williams spike. The market is in a bear trend below its main daily simple moving averages (DSMAs).

GBP/USD 4-hour chart

Cable is trading below 1.2550 resistance and the 100 and 200 SMAs. If bears break below 1.2509 support they could drive the market down towards 1.2444 and 1.2392, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

GBP/USD is trading at daily lows challenging 1.2509 support while below the 50 SMA. All in all suggesting a potential correction down. Immediate resistances are seen at 1.2550 and 1.2580.  

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