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GBP/USD Technical Analysis: Cable bears en route to October lows

GBP/USD daily chart

  • GBP/USD is trading in a bear trend below the 200-day simple moving average (SMA).
  • Cable bears objective is to reach the August low  at the 1.2661 level.  

GBP/USD 4-hour chart

  • GBP/USD is trading below its main SMAs.
  • GBP/USD is trading just above the October low at the 1.2695 level.

GBP/USD 30-minute chart

  • Cable is currently weak as bears are very close to testing the October low at the 1.2695 level.  
  • It will be interesting to see if the market can continue to drop towards the August lows if 1.2695 is broken.

Additional key levels  

GBP/USD

Overview:
       Today Last Price:  1.2714
       Today Daily change:  -29  pips
       Today Daily change %:  -0.228%
       Today Daily Open:  1.2743
Trends:
       Previous Daily SMA20:  1.2887
       Previous Daily SMA50:  1.2969
       Previous Daily SMA100:  1.2977
       Previous Daily SMA200:  1.3317
Levels:
       Previous Daily High:  1.281
       Previous Daily Low:  1.2735
       Previous Weekly High:  1.2864
       Previous Weekly Low:  1.2725
       Previous Monthly High:  1.3176
       Previous Monthly Low:  1.2723
       Previous Daily Fibonacci 38.2%:  1.2764
       Previous Daily Fibonacci 61.8%:  1.2781
       Previous Daily Pivot Point S1:  1.2715
       Previous Daily Pivot Point S2:  1.2688
       Previous Daily Pivot Point S3:  1.264
       Previous Daily Pivot Point R1:  1.279
       Previous Daily Pivot Point R2:  1.2837
       Previous Daily Pivot Point R3:  1.2865

 

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