GBP/USD Asia Price Forecast: Pound vulnerable near 2020 lows vs. greenback

GBP/USD is under bearish pressure meandering near 2020 lows.
The levels to beat for bears are the 1.2910/1.2885 support levels.

Flavio Tosti Independent Analyst

GBP/USD daily chart

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

GBP/USD four-hour chart

The spot remains under bearish pressure below the main SMAs. The sellers are challenging the 1.2910 support and a break below the level can lead to extra losses towards the 1.2885, 1.2830 and 1.2785 price levels. Corrections up can find resistance near 1.2933, 1.2960 and 1.3000 figure, according to the Technical Confluences Indicator.

Resistance: 1.2933, 1.2960, 1.3000

Support: 1.2910, 1.2885, 1.2830, 1.2785

Additional key levels

GBP/USD

Overview
Today last price	1.2912
Today Daily Change	0.0027
Today Daily Change %	0.21
Today daily open	1.2885

Trends
Daily SMA20	1.3037
Daily SMA50	1.3079
Daily SMA100	1.2898
Daily SMA200	1.2694

Levels
Previous Daily High	1.296
Previous Daily Low	1.2882
Previous Weekly High	1.3184
Previous Weekly Low	1.2882
Previous Monthly High	1.3281
Previous Monthly Low	1.2954
Daily Fibonacci 38.2%	1.2912
Daily Fibonacci 61.8%	1.293
Daily Pivot Point S1	1.2858
Daily Pivot Point S2	1.2831
Daily Pivot Point S3	1.278
Daily Pivot Point R1	1.2936
Daily Pivot Point R2	1.2987
Daily Pivot Point R3	1.3014

Author

Flavio Tosti

Independent Analyst

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