Home GBP/USD technical analysis: Cable consolidtes losses near the 1.2450 level.
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GBP/USD technical analysis: Cable consolidtes losses near the 1.2450 level.

FX Street
Updated:
  • GBP/USD is under pressure below the 1.2478 resistance level.
  • The level to beat for bears are at 1.2433 and 1.2388, according to the Technical Confluences  Indicator.

GBP/USD daily chart

Cable is trading in a bear trend below its main daily simple moving averages (DSMAs). The market is currently consolidation the recent losses near the 1.2450 level.


GBP/USD 4-hour chart
 

Cable is trading below the 1.2478 resistance level and the main SMAs. Sellers want a daily close below 1.2433 support to travel south to the 1.2388 level, according to the Technical Confluences Indicator.


GBP/USD 30-minute chart
 

GBP/USD is trading below the main SMAs suggesting bearish momentum in the near term. Immediate resistances are seen at 1.2478 and 1.2543.  


Additional key levels

 

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