GBP/USD price analysis: Pound hangs near seven-month highs around 1.3100 handle

The cable is trading at levels not seen since May 2019.
The level to beat for buyers is the 1.3118 resistance.

Flavio Tosti Independent Analyst

GBP/USD daily chart

After a consolidation period in November, the market finally broke to the upside hitting levels not seen since early May 2019.

GBP/USD four-hour chart

The market is spiking to the upside while above the main simple moving averages. As the buyers are in control, the market will likely try to break above the 1.3118 resistance. The next pit-stop on the way up is seen at the 1.3242 level, according to the Technical Confluences Indicator.

GBP/USD 30-minute chart

GBP/USD is climbing up above the main SMAs. Support is seen at the 1.3072, 1.3032 and 1.2984 price levels.

Additional key levels

GBP/USD

Overview
Today last price	1.3095
Today Daily Change	0.0097
Today Daily Change %	0.75
Today daily open	1.2998

Trends
Daily SMA20	1.289
Daily SMA50	1.2738
Daily SMA100	1.2507
Daily SMA200	1.2699

Levels
Previous Daily High	1.3013
Previous Daily Low	1.2925
Previous Weekly High	1.2952
Previous Weekly Low	1.2827
Previous Monthly High	1.2986
Previous Monthly Low	1.2769
Daily Fibonacci 38.2%	1.2979
Daily Fibonacci 61.8%	1.2959
Daily Pivot Point S1	1.2944
Daily Pivot Point S2	1.2891
Daily Pivot Point S3	1.2856
Daily Pivot Point R1	1.3032
Daily Pivot Point R2	1.3066
Daily Pivot Point R3	1.312

Author

Flavio Tosti

Independent Analyst

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