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

FX Street
Updated:
  • 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

 

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