GBP/USD Price Analysis: Pound dropping sharply, nearing 1.3000 figure

  • The market is in search of a clear direction. 
  • The level to beat for sellers is the 1.2973 level.

GBP/USD daily chart 


 The market is essentially ranging above the 100/200-day simple moving averages (SMAs) and an ascending trendline. 

GBP/USD four-hour chart

The pound is dropping sharply from the upper range of the last month of trading. Bears are likely back in control and a break below the 1.3010 support can lead to the 1.2967 and 1.2900 levels, according to the Technical Confluences Indicator. Resistances are seen near the 1.3035, 1.3080 and 1.3129 levels.   
Resistance: 1.3035, 1.3080, 1.3129 
Support: 1.3010, 1.2967, 1.2900

Additional key levels


Today last price 1.3018
Today Daily Change -0.0187
Today Daily Change % -1.42
Today daily open 1.3205
Daily SMA20 1.3071
Daily SMA50 1.3073
Daily SMA100 1.2874
Daily SMA200 1.2696
Previous Daily High 1.3207
Previous Daily Low 1.3076
Previous Weekly High 1.3207
Previous Weekly Low 1.2974
Previous Monthly High 1.3281
Previous Monthly Low 1.2954
Daily Fibonacci 38.2% 1.3157
Daily Fibonacci 61.8% 1.3126
Daily Pivot Point S1 1.3118
Daily Pivot Point S2 1.3032
Daily Pivot Point S3 1.2987
Daily Pivot Point R1 1.3249
Daily Pivot Point R2 1.3294
Daily Pivot Point R3 1.338



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD stable at around 1.1700, waiting for a fresh catalyst

The EUR/USD pair has spent most of the last trading session of the day stuck around 1.1700. Upbeat US Durable Goods Orders spurred modest demand for high-yielding assets.


GBP/USD hovers around 1.37. dismissing UK petrol crisis

GBP/USD is trading at around 1.37, as sterling shrugs off the drying up of some petrol stations due to Brexit-related lorry driver shortages.


Gold bulls not interested

Upbeat US data lifted the market’s mood and weighed on the dollar. US Treasury yields continue climbing to multi-month highs. XAU/USD is marginally higher on a daily basis but bears retain control.

Gold News

Shiba Inu stagnation period might result in 20% correction

Shibu Inu price continues to contract and cause frustration for bulls and bears. However, Shibu Inu is trading near the apex of the triangle pattern it is currently inside. Therefore, a breakout lower is likely to occur very soon.

Read more

Conference Board Consumer Confidence: Unhappy but still spending

Consumer Confidence expected to rise slightly to 114.5 in September. August’s confidence reading at 113.8 was the lowest since February. Weak Consumer Confidence did not damage August Retail Sales or Durable Goods Orders.

Read more