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  • GBP/USD is trading at its lowest since the week started.
  • The level to beat for bears is the 1.2910 support.  

GBP/USD daily chart

The pound is currently correcting last month’s rally in the 1.2800-1.3000 price zone. GBP/USD, in October, hit levels not seen since mid-May 2019.  

GBP/USD four-hour chart

GBP/USD is easing from the monthly highs while nearing the 1.2910 support level. A break below it could lead to further losses towards the 1.2890 and 1.2870 levels, according to the Technical Confluences Indicator.  

GBP/USD 30-minute chart

The spot is trading at daily lows below its main SMAs, suggesting a bearish bias in the near term. Resistances are seen at the 1.2940, 1.2957 and 1.2985 price levels.    

Additional key levels