GBP/USD technical analysis: Cable calm at 2-week lows, trading sub-1.2600

• GBP/USD is under pressure below the 1.2600 handle.
• Cable is trading in a tight range as markets are closed in the United States.

GBP/USD daily chart

GBP/USD is trading in a bear trend below its main daily simple moving averages (DSMAs). The market is under bearish pressure below the 1.2600 figure.

GBP/USD 4-hour chart

Cable is trading in a tight range below 1.2590 resistance and its main SMAs suggesting a negative bias in the medium term. The market can continue to slide down towards 1.2540, 1.2508 and to the 1.2482 level if bears gather enough steam, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

GBP/USD is under selling pressure below its main SMAs suggesting bearish momentum in the short term. Resistances can be located near 1.2590, 1.2613 and 1.2665, according to the Technical Confluences Indicator.
 

Additional key levels