Home GBP/USD technical analysis: Cable collapse to its lowest point since March 2017 as Brexit no-deal looms
FXStreet News

GBP/USD technical analysis: Cable collapse to its lowest point since March 2017 as Brexit no-deal looms

FX Street
Updated:
  • GBP/USD hits its lowest since March 2017.
  • The levels to beat for bears are seen at 1.2266 and 1.2189, according to the Technical Confluences Indicator.
 
GBP/USD crashes below 1.2300 as Boris Johnson turbo-charges no-deal Brexit
 

GBP/USD daily chart

 
 
Cable started the week losing more than a 100 pips falling to its lowest since March 2017.  
 
 

GBP/USD 4-hour chart

 
 
GBP/USD is challenging the 1.2266 support at fresh multi-month lows. Bears want to reach 1.2189 on the way down.
 

GBP/USD 30-minute chart

 
Cable has been falling like a rock. Resistances are seen near 1.2285, 1.2304, 1.2336 and 1.2381, according to the Technical Confluences Indicator.
 
 
 
 
 

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 – 2024