GBP/USD tumbles to four-week lows near 1.2300, pound under pressure
www.ntvforex.com/news/?id=09526f | 9 minutes ago | By Matías Salord
US dollar gains momentum as Wall Street extends losses.
Risk aversion hits the pound that also tumbles versus EUR and CHF.
Cable is falling sharply affected mainly by a rally of the US dollar across the board, while at the same time, the pound is lagging behind majors. GBP/USD tumbled to 1.2314, reaching the lowest since May 29.

The pair holds near the lows, down more than a hundred pips for the day and under pressure as the greenback shows strength. A quick slide in US equity prices boosted safe-haven assets. The DXY rose to 97.68, the highest in almost a week despite the rally in Treasuries. The US 10-year yield fell to 0.645%, the lowest level in four weeks.

The pound also tumbled against the euro and the Swiss franc, adding to the negative tone. EUR/GBP is about to test 0.9100 as it consolidation above a critical technical resistance. GBP/CHF dropped below 1.1700 to the lowest since late March.

Technical levels
On the downside, the next support for GBP/USD emerges at 1.2300, followed by 1.2285 and then 1.2245. A consolidation below 1.2350 would keep the pair under bearish pressure. On the upside, above 1.2365 is the immediate resistance and then comes 1.2400/05.

GBP/USD
Overview
Today last price 1.2328
Today Daily Change -0.0091
Today Daily Change % -0.73
Today daily open 1.2419

Trends
Daily SMA20 1.2545
Daily SMA50 1.2419
Daily SMA100 1.249
Daily SMA200 1.2692

Levels
Previous Daily High 1.2464
Previous Daily Low 1.2389
Previous Weekly High 1.2688
Previous Weekly Low 1.2344
Previous Monthly High 1.2601
Previous Monthly Low 1.2076
Daily Fibonacci 38.2% 1.2436
Daily Fibonacci 61.8% 1.2418
Daily Pivot Point S1 1.2384
Daily Pivot Point S2 1.2349
Daily Pivot Point S3 1.2308
Daily Pivot Point R1 1.2459
Daily Pivot Point R2 1.25
Daily Pivot Point R3 1.2535

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