GBP/USD Technical Analysis: Cable falling from daily highs as bears challenge 1.2950 level

GBP/USD daily chart

• GBP/USD is trading below its 200-day simple moving average (SMA).

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

• The market is trading below its main SMAs suggesting a bearish bias in the short-term. 
• A break below 1.2950 support should open the gates to 1.2900 figure. 
• Strong resistance is seen at 1.3000 figure and 1.3040 level. 

Additional key levels