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  • GBP/USD is ending Monday near its daily low.  
  • The levels to beat for bears are seen at 1.2216, followed by 1.2197 support.

GBP/USD daily chart

GBP/USD is trading in a bear trend below the main daily simple moving averages (SMAs). This Monday the market is retreating below the 1.2300 figure.

GBP/USD 4-hour chart

The Cable is trading below a downward sloping 200 SMA suggesting bearish momentum in the medium term. Sellers need to break below 1.2216 to reach 1.2197, 1.2159 and 1.2121 support on the way down, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

GBP/USD is trading between the 100 and 200 SMAs, suggesting a consolidation in the short term. Resistances are seen at 1.2261, 1.2300 and the 1.2330 levels.

Additional key levels