GBP/USD Price Analysis: Flirts with two-week-old resistance below 1.3200

GBP/USD seesaws around short-term key resistance line after refreshing two-month high.
Upbeat RSI conditions keep buyers hopeful above 200-bar SMA.

Anil Panchal FXStreet

GBP/USD stays positive around 1.3175, up 0.15% intraday, during Monday’s Asian session. The early Asian up-tick to 1.3182 extended the pair’s run-up to the fresh high since September 07 amid the price-positive RSI conditions.

Even so, a clear break beyond an ascending trend line from October 27, currently around 1.3175/80 becomes necessary for the GBP/USD bulls to aim for the 1.3200 threshold.

During the quote’s further upside past-1.3200, the August 19 high near 1.3270 can offer an intermediate halt to the north-run towards September’s peak surrounding 1.3485.

On the flip side, the 1.3100 round-figure and last Wednesday’s high of 1.3050 can restrict the pair’s pullback moves before directing the GBP/USD sellers toward a 200-bar SMA level of 1.2962.

Should there be a clear downside past-1.2962, the monthly low near 1.2855 can return to the charts.

GBP/USD four-hour chart

Trend: Bullish

Additional important levels

Overview
Today last price	1.3175
Today Daily Change	22 pips
Today Daily Change %	0.17%
Today daily open	1.3153

Trends
Daily SMA20	1.3008
Daily SMA50	1.2983
Daily SMA100	1.2903
Daily SMA200	1.2707

Levels
Previous Daily High	1.3177
Previous Daily Low	1.3092
Previous Weekly High	1.3177
Previous Weekly Low	1.2854
Previous Monthly High	1.3177
Previous Monthly Low	1.282
Daily Fibonacci 38.2%	1.3145
Daily Fibonacci 61.8%	1.3125
Daily Pivot Point S1	1.3105
Daily Pivot Point S2	1.3056
Daily Pivot Point S3	1.302
Daily Pivot Point R1	1.3189
Daily Pivot Point R2	1.3225
Daily Pivot Point R3	1.3274

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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