Home GBP/USD technical analysis: Cable having a small bounce from daily lows, sub-1.2135 resistance
FXStreet News

GBP/USD technical analysis: Cable having a small bounce from daily lows, sub-1.2135 resistance

  • GBP/USD is trading off multi-month lows below 1.2135 resistance.
  • A break above 1.2135 can see the correction advance towards 1.2167.  
 

GBP/USD daily chart

 
 
GBP/USD is off multi-month lows trading below its main daily simple moving averages.  
 

GBP/USD 4-hour chart

 
GBP/USD is stabilizing just above 1.2100 support. The bears need a break below the level to reach the next supports at 1.2067 and 1.1998, according to the Technical Confluences Indicator.  
 

GBP/USD 30-minute chart

 
Cable is having a small bounce from the daily lows. The bulls need to break 1.2135 to extend the correction towards 1.2167, 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.