GBP/USD Price Analysis: Pound bears targetting the 1.3000 handle

GBP/USD is trapped in a triangle pattern.
The level to beat for sellers is the 1.3100 support.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is trading in a triangle pattern above the main daily simple moving averages (SMAs). The new trading year started with a potential lower high just below the 1.3300 handle.

GBP/USD four-hour chart

The cable is displaying lack of bullish enthusiasm below the 1.3200 handle and the 50 SMA on the four-hour chart. If the bears breach the 1.3100 handle, the spot would probably decline toward 1.3055 and the 1.3000 levels. On the flip side, bulls would need to recapture the 1.3200 resistance on a daily basis to drive the quote towards the 1.3282 level, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.3122
Today Daily Change	0.0004
Today Daily Change %	0.03
Today daily open	1.3118

Trends
Daily SMA20	1.3116
Daily SMA50	1.3008
Daily SMA100	1.2729
Daily SMA200	1.2692

Levels
Previous Daily High	1.3213
Previous Daily Low	1.3095
Previous Weekly High	1.3285
Previous Weekly Low	1.3053
Previous Monthly High	1.3515
Previous Monthly Low	1.2896
Daily Fibonacci 38.2%	1.314
Daily Fibonacci 61.8%	1.3168
Daily Pivot Point S1	1.3071
Daily Pivot Point S2	1.3024
Daily Pivot Point S3	1.2953
Daily Pivot Point R1	1.3189
Daily Pivot Point R2	1.326
Daily Pivot Point R3	1.3307

Author

Flavio Tosti

Independent Analyst

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