GBP/USD Price Analysis: Pound hovering below the 1.3000 figure


  • GBP/USD is bouncing from the 2020 lows as the spot formed a descending wedge. 
  • The levels to beat for buyers is the 1.2995 level.
 

GBP/USD daily chart 

 
Following the October and December bull-runs, GBP/USD is trading in a rectangle consolidation above the 100/200-day simple moving averages (SMAs).
 

GBP/USD four-hour chart

 
The pound is pulling back up after the spot formed a descending wedge pattern. Buyers are trying to break the 1.2995 resistance to push the spot towards the 1.3035 and 1.3089 levels. Support is seen near the 1.2954 and 1.2914 price levels, according to the Technical Confluences Indicator.
 
 
 
Resistance: 1.2995, 1.3035, 1.3089
Support: 1.2954, 1.2914, 1.2887 
   
 

Additional key levels

GBP/USD

Overview
Today last price 1.296
Today Daily Change 0.0002
Today Daily Change % 0.02
Today daily open 1.2958
 
Trends
Daily SMA20 1.3029
Daily SMA50 1.3078
Daily SMA100 1.2908
Daily SMA200 1.2692
 
Levels
Previous Daily High 1.297
Previous Daily Low 1.2894
Previous Weekly High 1.3184
Previous Weekly Low 1.2882
Previous Monthly High 1.3281
Previous Monthly Low 1.2954
Daily Fibonacci 38.2% 1.2941
Daily Fibonacci 61.8% 1.2923
Daily Pivot Point S1 1.2911
Daily Pivot Point S2 1.2865
Daily Pivot Point S3 1.2835
Daily Pivot Point R1 1.2987
Daily Pivot Point R2 1.3017
Daily Pivot Point R3 1.3063

 

 

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