25 Oct 2019
GBP/USD technical analysis: Cable trading at daily lows near 1.2815 level
- GBP/USD is challenging the 1.2815 support level in the New York session.
- The level to beat for sellers is the 1.2815/1.2772 support zone.
GBP/USD daily chart
The Sterling in October spiked up above the main daily simple moving averages (DSMAs) and hit levels not seen since mid-May 2019. The Brexit headlines remain the main catalysts behind the GBP moves.
GBP/USD four-hour chart
GBP/USD is retracing down, below the 1.2900 handle and the 50 SMA. Bears need a daily break below the 1.2815/1.2772 support zone to reach the 1.2700 handle, according to the Technical Confluences Indicator.
GBP/USD 30-minute chart
GBP/USD is trading below its main SMAs, suggesting a bearish momentum in the near term. The main resistances are seen at 1.2880 and 1.2908, according to the Technical Confluences Indicator.
Additional key levels