21 Oct 2019
GBP/USD technical analysis: Cable starts the week clinging to five months highs near 1.3000 handle
- Brexit headlines keep being the main driver behind GBP moves.
- The level to beat for buyers is the 1.3025 resistance.
GBP/USD daily chart
The Sterling, on the daily chart, is spiking above the main daily simple moving averages (DSMAs). The Cable is trading at levels not seen since mid-May 2019. GBP/USD breaks above 1.30 as DUP rejects the customs union amendment to the Brexit deal.
GBP/USD four-hour chart
The Cable is spiking up above its main SMAs. GBP/USD is trying to break beyond the 1.3025 resistance to drive the market towards 1.3085 and the 1.3140 resistances.
GBP/USD 30-minute chart
GBP/USD is trading above the main SMAs, suggesting bullish momentum in the near term. Support is seen at 1.2990, followed by 1.2950/33 zone and the 1.2906 price level, according to the Technical Confluences Indicator.
Additional key levels