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16 Apr 2019

GBP/USD Technical Analysis: Cable drops to weekly lows near 1.3040 level

GBP/USD daily chart

  • GBP/USD is consolidating below the 50-day simple moving average (SMA). 


GBP/USD 4-hour chart

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


GBP/USD 30-minute chart

  • The market could find some short-term support here at 1.3040 level. 
  • If broken then the next pit-stop for bears become 1.3000 the figure.
  • Resistance is at 1.3080 level.

Additional key levels

 

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