GBP/USD Technical Analysis: Cable weakening below 1.2920 level

GBP/USD daily chart

• GBP/USD is drifting down below its main SMAs suggesting an overall bearish bias.

GBP/USD 4-hour chart

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

GBP/USD 30-minute chart

• GBP/USD is capped below the 1.2920 resistance and the 50 SMA. 
• The bias stays tilted to the downside as the level to beat for bears is 1.2860 and 1.2820 support.
• Resistances are seen at 1.2920 and 1.2950 level.

Additional key levels