GBP/USD Technical Analysis: Cable under pressure near daily lows as market approaches 1.2900 figure

GBP/USD daily chart

• GBP/USD is trading below its main SMAs at 2.5-month lows.

GBP/USD 4-hour chart

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

GBP/USD 30-minute chart

• GBP/USD is trading below 1.2950 and its main SMAs suggesting a bearish bias in the short-term.
• If bears break 1.2905 then 1.2890 and 1.2860 can come into play in the near-term.
• Resistance is seen at 1.2950 and 1.3000 level.

Additional key levels