Home GBP/USD Technical Analysis: Intraday rebound capped at 1.2920 resistance
FXStreet News

GBP/USD Technical Analysis: Intraday rebound capped at 1.2920 resistance

GBP/USD daily chart

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

GBP/USD 4-hour chart

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


GBP/USD 30-minute chart

  • The market is having a rebound from the 1.2860 support but remained capped below the 1.2920 resistance and the 50 SMA.  
  • The bias remains bearish on the Cable as the level to beat for bears is at 1.2860 and 1.2820 to the downside.
  • Resistances are at 1.2920 and 1.2950 level.

Additional key levels

 

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.