GBP/USD Price Analysis: Pound hits 4-month lows and bounces


  • GBP/USD is bouncing from four-month lows, nearing the 1.2700 figure.
  • GBP/USD remains vulnerable to the downside. 

 

GBP/USD daily chart 

 
GBP/USD is dropping below the 1.2900 figure and the 50/100-day simple moving averages (SMAs) as the market is bouncing from levels not seen since October 2019. 
 

GBP/USD four-hour chart

 
Pound/Dollar is recovering slightly while trading below its main SMAs. The path of least resistance is to the downside with targets near the 1.2700, 1.2657 and 1.2600 levels. On the flip side, bullish incursions could find resistance near the 1.2820, 1.2858 and 1.2900 levels, according to the Technical Confluences Indicator.
 
 
Resistance: 1.2820, 1.2858, 1.2900
Support: 1.2700, 1.2657, 1.2600
   
 

Additional key levels

GBP/USD

Overview
Today last price 1.282
Today Daily Change -0.0071
Today Daily Change % -0.55
Today daily open 1.2891
 
Trends
Daily SMA20 1.2973
Daily SMA50 1.3028
Daily SMA100 1.2987
Daily SMA200 1.27
 
Levels
Previous Daily High 1.2946
Previous Daily Low 1.286
Previous Weekly High 1.3054
Previous Weekly Low 1.2849
Previous Monthly High 1.3281
Previous Monthly Low 1.2954
Daily Fibonacci 38.2% 1.2893
Daily Fibonacci 61.8% 1.2914
Daily Pivot Point S1 1.2852
Daily Pivot Point S2 1.2813
Daily Pivot Point S3 1.2766
Daily Pivot Point R1 1.2938
Daily Pivot Point R2 1.2985
Daily Pivot Point R3 1.3024

 

 

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