GBP/USD technical analysis: Cable paring some intraday losses near 1.2700 figure

• GBP/USD is in consolidation mode. 
• Bulls need a breakout above 1.2750 to get out of the woods. 
• Earlier in the London session, Industrial and Manufacturing production data disappointed weakening GBP.

GBP/USD daily chart

GBP/USD is consolidating the bear run seen in May. The recovery is for now capped at the 1.2750 resistance.

GBP/USD 4-hour chart

Cable is trading above the 50 and 100 SMA suggesting a potential bullish bias in the medium term.

GBP/USD 30-minute chart

Cable is trading in the 1.2650-1.2750 range. Bulls need a break above 1.2750 to reach 1.2800 while bears need a breakdown below 1.2650 to reach 1.2600 figure.

Additional key levels