GBP/USD New York Price Forecast: Pounds decimated into 1985 lows

GBP/USD lost about 10% in seven days.
The level to beat for bears is the 1.1797 support.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is melting down in the last seven days as the market is trading to its lowest since 1985. USD strength is taking its toll on GBP/USD.

GBP/USD four-hour chart

GBP/USD is under heavy selling pressure in 1985 lows trading well below its main SMAs. The sellers are in control and a break below the 1.1797 support can lead to further losses towards 1.11760 and 1.1680 levels, according to the Technical Confluences Indicator. Resistance is seen near the 1.1880, 1.1960 and 1.2100 levels.

Resistance: 1.1880, 1.1960, 1.2100

Support: 1.1797, 1.1760, 1.1680

Additional key levels

GBP/USD

Overview
Today last price	1.1828
Today Daily Change	-0.0227
Today Daily Change %	-1.88
Today daily open	1.2055

Trends
Daily SMA20	1.2789
Daily SMA50	1.2933
Daily SMA100	1.2971
Daily SMA200	1.2702

Levels
Previous Daily High	1.2274
Previous Daily Low	1.2002
Previous Weekly High	1.3201
Previous Weekly Low	1.2264
Previous Monthly High	1.3204
Previous Monthly Low	1.2726
Daily Fibonacci 38.2%	1.2106
Daily Fibonacci 61.8%	1.217
Daily Pivot Point S1	1.1947
Daily Pivot Point S2	1.1839
Daily Pivot Point S3	1.1675
Daily Pivot Point R1	1.2219
Daily Pivot Point R2	1.2382
Daily Pivot Point R3	1.2491

Author

Flavio Tosti

Independent Analyst

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