GBP/USD technical analysis: Cable under mild pressure in the New York session, sub-1.2360 level

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  • The Sterling is confined in the range of the last two days. 
  • The level to beat for bears is at 1.2313 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 is stalling below the 1.2400 figure as the market is consolidating above the 50 SMA. 

GBP/USD four-hour chart

 
GBP/USD is having a hard time to pierce 1.2360 resistance. A daily close above this level is necessary to attract buying interest towards 1.2390 and 1.2440 resistance levels, according to the Technical Confluences Indicator. 
 
 

GBP/USD 30-minute chart

 
The Pound is trading below the main SMAs, suggesting bearish momentum in the near term. Bears might be looking for a break of the 1.2313 key support to reach 1.2262 and 1.2205 levels on the way down, according to the Technical Confluences Indicator. 
 

Additional key levels

 

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