GBP/USD Technical Analysis: Cable weakening below 1.2920 level

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GBP/USD daily chart

  • GBP/USD is drifting down below its main SMAs suggesting an overall bearish bias.


GBP/USD 4-hour chart

  • GBP/USD is evolving below its main SMAs suggesting bearish momentum in the medium-term.

GBP/USD 30-minute chart

  • GBP/USD is capped below the 1.2920 resistance and the 50 SMA. 
  • The bias stays tilted to the downside as the level to beat for bears is 1.2860 and 1.2820 support.
  • Resistances are seen at 1.2920 and 1.2950 level.


Additional key levels

 

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