GBP/USD technical analysis: Cable reverses early gains on Carney’s comments

• GBP/USD is under bearish pressure below the 1.2700 handle.
• The market is currently challenging the daily low near 1.2591 support.

 Breaking: GBP/USD slumps to 2-week lows below 1.26 on Carney's cautious tone

GBP/USD daily chart

GBP/USD is trading in a bear trend below its main daily simple moving averages (DSMAs). The market remains under pressure below the 1.2700 figure.

GBP/USD 4-hour chart

 
Cable is trading below its main SMAs suggesting bearish momentum in the medium term. The market reached 1.2591 support on Carney’s comment. The market can continue sliding down towards, 1.2545, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

 
GBP/USD is trading below its main SMAs suggesting bearish momentum in the near term. Resistances are seen at 1.2617 and 1.2645, according to the Technical Confluences Indicator.

Additional key levels