- GBP/USD is currently under bearish pressure.
- Can bears break below the 1.2600 figure?
GBP/USD daily chart
GBP/USD is attempting to stabilizing above the 1.2600 figure as it is trading below its main simple moving averages (SMAs).
GBP/USD 4-hour chart
Cable is trading below its main SMAs suggesting a bearish bias in the medium term.
GBP/USD 30-minute chart
GBP/USD is rebounding from above the 1.2600 figure. Cable is likely attempting to form a bottom above 1.2600 but the momentum is currently bearish. Resistances are seen at 1.2630, 1.2670 and most importantly at the 1.2700 level. A breakdown below 1.2600 on a daily closing basis can potentially open the gates to a new bear leg to the downside.
Additional key levels
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