GBP/USD technical analysis: Cable on a rollercoaster as Brexit drama unfolds

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  • UK PM May is about to allow a free vote on a second referendum.
  • GBP/USD is regaining some strength after a massive selloff in the last weeks. 

GBP/USD daily chart

GBP/USD is finding some support after the selling of the last weeks. The main supports to the downside are seen at 1.2700 figure, 1.2670 swing low and 1.2550 level.

GBP/USD 4-hour chart

GBP/USD spiked above the 1.2800 figure.


GBP/USD 30-minute chart

GBP/USD is challenging the 1.2800 figure and the 200 SMA. The market will probably continue consolidating in the 1.2700-1.2800 band before any meaningful move in either direction. However, bulls seem to have regained some modest ground. A break above 1.2800 the figure can lead to 1.2880 resistance. Immediate support is at 1.2740 and 1.2860 level. 

Additional key levels

 

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