- GBP / USD is under strong bearish pressure near the 6-week lows.
- The level to beat for sellers is the figure of 1.2100.
GBP / USD daily chart
GBP / USD is trading below the main SMAs in the daily chart, suggesting a bearish bias, as the market is subject to strong selling pressure at the 6-week low.
Four-hour GBP / USD chart
GBP / USD is trading below its main SMA on the four-hour chart as bears approach the 1.2100 figure. Sellers remain in total control of GBP / USD, which should continue to lower prices and reach 1.2100 and 1.1950 levels in the medium term. Occasional bullish attempts may find resistance near the 1.2200 and 1.2300 levels.
Resistance: 1.2200, 1.2300, 1.2400
Support: 1.2100, 1.1950, 1.1900