GBP/USD technical analysis: Cable rising to weekly highs near 1.2570 resistance

0
  • GBP/USD is challenging 1.2570 resistance and Thursday’s high.
  • Support is seen at 1.2538 and 1.2485 according to the Technical Confluences Indicator. 

GBP/USD daily chart

GBP/USD is in a bear trend below its main daily simple moving averages (DSMAs). The market is in correction mode above the 1.2500 figure.

GBP/USD 4-hour chart

GBP/USD is challenging the 1.2570 resistance. A break above it could lead to 1.2617, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

GBP/USD is trading above its main SMAs suggesting bullish momentum in the near term. Support is seen at 1.2538 and 1.2485, according to the Technical Confluences Indicator.

Additional key levels

 

Get the 5 most predictable currency pairs

About Author

Comments are closed.