Home GBP/USD technical analysis: Cable hovering at two-weeks lows, near 1.2360 level
FXStreet News

GBP/USD technical analysis: Cable hovering at two-weeks lows, near 1.2360 level

  • GBP remains under heavy pressure after the London close.
  • The level to beat for sellers is the 1.2360 support.
 
 

GBP/USD daily chart

 
The Sterling is trading in a bear trend below the 100 and 200-day simple moving averages (SMAs).
 
 

GBP/USD four-hour chart

 
 
The market broke below the 100 SMA and is settling above the 1.2360 support. A breakdown of this level can expose the 1.2320 and 1.2280 support level, according to the Technical Confluences Analysis.
 
 

GBP/USD 30-minute chart

 
 
 
 
The market is under heavy pressure near two week’s lows. Immediate resistance is seen at 1.2380 followed by the 1.2415 price level.
 
 
 
 

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.