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GBP/USD Technical Analysis: Cable moving down in slow motion as 1.2720 is the next target

GBP/USD daily chart

  • GBP/USD is trading in a bear trend below its main simple moving averages (SMAs).  
  • GBP/USD is trading near November lows as technical indicators are weak.

GBP/USD 4-hour chart

  • The 1.2800 figure is acting as resistance.  
  • Technical indicators are weak.

GBP/USD 30-minute chart

  • GBP/USD has been moving slowly in the last three sessions.  
  • GBP/USD is below its main SMAs while technical indicators are bearish.  
  • The next target is likely the 1.2720 level. A break above 1.2880 might invalidate the current bearish pressure.

Additional key levels at a glance:
 

GBP/USD

Overview:
       Last Price:  1.2785
       Daily change:  0.0  pips
       Daily change:  0.00%
       Daily Open:  1.2785
Trends:
       Daily SMA20:  1.2907
       Daily SMA50:  1.3023
       Daily SMA100:  1.3012
       Daily SMA200:  1.3364
Levels:
       Daily High:  1.2884
       Daily Low:  1.2776
       Weekly High:  1.3074
       Weekly Low:  1.2724
       Monthly High:  1.326
       Monthly Low:  1.2696
       Daily Fibonacci 38.2%:  1.2817
       Daily Fibonacci 61.8%:  1.2843
       Daily Pivot Point S1:  1.2747
       Daily Pivot Point S2:  1.2708
       Daily Pivot Point S3:  1.2639
       Daily Pivot Point R1:  1.2854
       Daily Pivot Point R2:  1.2922
       Daily Pivot Point R3:  1.2961

 

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