GBP/USD Price Analysis: Pound easing from weekly high, trades above 1.3000 figure

GBP/USD is reversing from multi-week lows and challenges the 1.3000 figure.
The levels to beat for bulls is the 1.3038 level.

Flavio Tosti Independent Analyst

GBP/USD daily chart

Following the October and December bull-run, GBP/USD is trading in a rectangle consolidation above its 100/200-day simple moving averages (SMAs). The spot is easing below the 1.3100 figure and the 50 SMA.

GBP/USD four-hour chart

The pound is reversing up from multi-week lows as GBP/USD spot is challenging the 1.3000 figure. The market is easing from the weekly high however, bulls are likely back in control and the spot should attempt to break above the 1.3038 resistance to reach the 1.3079 and 1.3160 resistances. Support is seen near the 1.299 and 1.2957 price levels, according to the Technical Confluences Indicator.

Resistance: 1.3038, 1.3079, 1.3160

Support: 1.2998, 1.2957, 1.2920

Additional key levels

GBP/USD

Overview
Today last price	1.3018
Today Daily Change	-0.0030
Today Daily Change %	-0.23
Today daily open	1.3048

Trends
Daily SMA20	1.3024
Daily SMA50	1.3073
Daily SMA100	1.2921
Daily SMA200	1.2692

Levels
Previous Daily High	1.307
Previous Daily Low	1.2944
Previous Weekly High	1.3184
Previous Weekly Low	1.2882
Previous Monthly High	1.3281
Previous Monthly Low	1.2954
Daily Fibonacci 38.2%	1.3022
Daily Fibonacci 61.8%	1.2992
Daily Pivot Point S1	1.2972
Daily Pivot Point S2	1.2895
Daily Pivot Point S3	1.2846
Daily Pivot Point R1	1.3098
Daily Pivot Point R2	1.3147
Daily Pivot Point R3	1.3224

Author

Flavio Tosti

Independent Analyst

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