News

GBP/USD Price Analysis: Pound under pressure, trading sub 1.300 figure

  • GBP/USD is challenging the lower end of its range.
  • The level to beat for bears is the 1.2977 support.
 

GBP/USD daily chart 

 
Following the October and December bull-market, GBP/USD is trading in a rectangle consolidation above the 100/200-day simple moving averages (SMAs).
 

GBP/USD four-hour chart

 
The pound is under pressure in the lower end of its range. Bears are attacking the 1.2977 support level as they likely intend to drive the price further down towards 1.2940 and the 1.2900 figure. Resistances are seen near the 1.3010, 1.3040 and 1.3085 levels, according to the Technical Confluences Indicator.
   
 
Resistance: 1.3010, 1.3040, 1.3085
Support: 1.2977, 1.2940, 1.2900
 
 

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.