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GBP/USD Technical Analysis: Cable bulls at daily highs challenging the 1.2920 resistance

GBP/USD daily chart

  • GBP/USD is evolving in a bear trend below its 200-day simple moving averages (SMA) on the daily chart.

GBP/USD 4-hour chart

  • Cable is above the 50, 100 and 200 SMAs, suggesting a bullish momentum in the medium-term.

GBP/USD 30-minute chart

  • GBP/USD is trading above its main SMAs suggesting bullish momentum.  
  • The 1.2920 resistance is the level to beat for bulls, a break of the level to the upside could lead to 1.3000 figure.
  • To the downside, support is initially seen at 1.2870 and then at the 1.2820 level.

Additional key levels

GBP/USD

Overview:
       Today Last Price:  1.2914
       Today Daily change:  0.0020  pips
       Today Daily change %:  0.16%
       Today Daily Open:  1.2894
Trends:
       Daily SMA20:  1.2771
       Daily SMA50:  1.2751
       Daily SMA100:  1.2891
       Daily SMA200:  1.3086
Levels:
       Previous Daily High:  1.2912
       Previous Daily Low:  1.283
       Previous Weekly High:  1.3002
       Previous Weekly Low:  1.2668
       Previous Monthly High:  1.284
       Previous Monthly Low:  1.2477
       Daily Fibonacci 38.2%:  1.288
       Daily Fibonacci 61.8%:  1.2861
       Daily Pivot Point S1:  1.2845
       Daily Pivot Point S2:  1.2797
       Daily Pivot Point S3:  1.2764
       Daily Pivot Point R1:  1.2927
       Daily Pivot Point R2:  1.296
       Daily Pivot Point R3:  1.3008

 

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