GBP/USD Price Analysis: Bulls look for entries only beyond 1.3030

GBP/USD fades upside momentum below the 1.3000 threshold.
A one-week-old falling trend line, confluence of 100 and 200-bar EMAs question buyers.
Sellers will wait to cheer the downside break of an ascending trend line from September 11.

Anil Panchal FXStreet

GBP/USD stays sluggish around 1.2975 during Friday’s Asian session. In doing so, the cable fails to extend the previous day’s bounce off 1.2864 near the key upside hurdles.

Among them, a falling trend line from September 10, at 1.2997 now, nears the 1.3000 psychological magnet to challenge the buyers at first. Following that, a joint of 100-bar and 200-bar EMAs around 1.3030 becomes the key to watch.

With the MACD flashing bullish signals, the GBP/USD prices are likely to keep the upside momentum but will wait for a clear break above 1.3030 to challenge 1.3060 and September 04 low near 1.3175.

Meanwhile, the 1.2900 round-figures can entertain the intraday swing traders before diverting market attention to the short-term support line, currently around 1.2870.

Should there be a further downside past-1.2870, bears will target to refresh the monthly low of 1.2762.

GBP/USD four-hour chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price	1.2976
Today Daily Change	8 pips
Today Daily Change %	0.06%
Today daily open	1.2968

Trends
Daily SMA20	1.312
Daily SMA50	1.2986
Daily SMA100	1.2708
Daily SMA200	1.2733

Levels
Previous Daily High	1.3007
Previous Daily Low	1.2875
Previous Weekly High	1.3279
Previous Weekly Low	1.2763
Previous Monthly High	1.3396
Previous Monthly Low	1.2982
Daily Fibonacci 38.2%	1.2957
Daily Fibonacci 61.8%	1.2926
Daily Pivot Point S1	1.2893
Daily Pivot Point S2	1.2818
Daily Pivot Point S3	1.2761
Daily Pivot Point R1	1.3025
Daily Pivot Point R2	1.3082
Daily Pivot Point R3	1.3156

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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