GBP/USD technical analysis: Cable continues bleeding as the London session comes to an end, sub-1.2240
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GBP/USD technical analysis: Cable continues bleeding as the London session comes to an end, sub-1.2240

FX Street
Updated:
  • GBP/USD is at its lowest since March 2017.
  • The 1.2189 level can be the next pit-stop for bears, according to the Technical Confluences Indicator.
 
 

GBP/USD daily chart

 
 
Cable is sharply down to multi-month lows as a no-deal Brexit is looming.  
 
 

GBP/USD 4-hour chart

 
 
GBP/USD is trading below the 1.2240 support as the market made a vertical move down this Monday. Bears objective is to reach 1.2189 on the way down, according to the Technical Confluences Indicator.
 

GBP/USD 30-minute chart

 
Cable is trading near daily lows as the sellers generated a strong bear move. Resistances are seen near 1.2240, 1.2264, 1.2285, 1.2304, 1.2336 and 1.2381, according to the Technical Confluences Indicator.
 

Additional key levels

 

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