GBP/USD technical analysis: Cable collapse to its lowest point since March 2017 as Brexit no-deal looms

GBP/USD hits its lowest since March 2017.
The levels to beat for bears are seen at 1.2266 and 1.2189, according to the Technical Confluences Indicator.

GBP/USD crashes below 1.2300 as Boris Johnson turbo-charges no-deal Brexit

GBP/USD daily chart

Cable started the week losing more than a 100 pips falling to its lowest since March 2017.

GBP/USD 4-hour chart

GBP/USD is challenging the 1.2266 support at fresh multi-month lows. Bears want to reach 1.2189 on the way down.

GBP/USD 30-minute chart

Cable has been falling like a rock. Resistances are seen near 1.2285, 1.2304, 1.2336 and 1.2381, according to the Technical Confluences Indicator.

Additional key levels

Jul 29, 2019

USD/CAD technical analysis: Retreats closer to a previous resistance breakpoint, around mid-1.3100s

The mentioned region coincides with 100-hour SMA and 23.6% Fibo. level of the 1.3565-1.3016 recent downfall, which should now act as a key pivotal poi

GBP/USD nosedives to the lowest level since March 2017, below mid-1.2200s

Selling pressure around the British Pound picked up the pace in the last hour, with the GBP/USD pair crashing farther below the 1.2300 handle for the