GBP/USD Technical Analysis: Cable trading above 1.2900 figure among Dollar weakness

GBP/USD daily chart

• GBP/USD is regaining some strength above 1.2900 as the US Dollar is weakening across the board.

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 broke above 1.2920 and the 50 and 100 SMAs suggesting a correction up.
• If bulls break 1.2950 then 1.3000 the figure can come into play.
• Support is seen at 1.2920, 1.2890 and 1.2860 level.

Additional key levels