GBP/USD Technical Analysis: Cable challenging daily lows near 1.2910 level

The pound is currently correcting last month’s rally in the 1.2800-1.3000 price zone. GBP/USD, in October, hit levels not seen since mid-May 2019.  |  19/11/2019 20:01
  • GBP/USD is trading at its lowest since the week started.
  • The level to beat for bears is the 1.2910 support. 
 

GBP/USD daily chart

 
 
The pound is currently correcting last month’s rally in the 1.2800-1.3000 price zone. GBP/USD, in October, hit levels not seen since mid-May 2019. It is now easing from the November highs.
 
 

GBP/USD four-hour chart

 
 
GBP/USD is easing from the monthly highs while nearing the 1.2910 support level. A break below it could lead to further losses towards the 1.2890 and 1.2870 levels, according to the Technical Confluences Indicator. 
 
 

GBP/USD 30-minute chart

 
 
The spot is trading at daily lows below its main SMAs, suggesting a bearish bias in the near term. Resistances are seen at the 1.2940, 1.2957 and 1.2985 price levels.  
 
  

Additional key levels

 

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on FX
and other asset classes for Market Insight viewers

RISK WARNING

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

  • ForexF
  • IndicesI
  • CommoditiesC
        Back

        Login to Market Insight Account

        Your Market Insight account gives you access to the tools that we offer our customers including our
        Technical Studies & Sentiment for your accounts.

        Forgot Password?

        Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

        Create a Market Insight's Account

        Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

        register_ty

        Thank you!

        Welcome to Market Insight family!

        You have succesfully completed the registration.
        We will send you an e-mail to give you some
        instructions and our Terms and Conditions!
        Our account representatives will be contacting you as
        soon as possible. If you have any further questions
        please do not hesitate to mail us via info@marketinsight.com