Back
GBP/USD is rejecting the 1.2900 handle as the market is easing from the November highs. The spot is trading well above its main daily simple moving averages (DMAs).
22 Nov 2019
GBP/USD Technical Analysis: Cable pressuring weekly lows near 1.2820 level
- The cable is turning negative for the week.
- The level to beat for sellers is the 1.2820 support.
GBP/USD daily chart
GBP/USD is rejecting the 1.2900 handle as the market is easing from the November highs. The spot is trading well above its main daily simple moving averages (DMAs).
GBP/USD four-hour chart
The market is challenging the 1.2821 support and the 200 SMA. A break below the level next week could lead to further losses towards the 1.2788 and 1.2741 price levels, according to the Technical Confluences Indicator.
GBP/USD 30-minute chart
The market is trading below the main SMAs, suggesting a bearish bias in the near term. Resistance is seen at the 1.2870 and 1.2900 price levels.
Additional key levels