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

 

 

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

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD stays directed towards 1.1230 inside weekly falling channel

EUR/USD struggles to keep the latest rebound from 1.1266 around the support-turned-resistance line during the initial Asian session on Tuesday. The major currency pair stays inside a nearby descending trend channel formation around 1.1285.

EUR/USD News

GBP/USD hovers around 1.3250 as bulls doubt Brexit, BOE positives

GBP/USD treads water around 1.3255-60 during the early Asian session on Tuesday, following a positive daily performance. The cable pair fades the recovery strength as sluggish market sentiment and a lack of major catalysts challenge the buyers’ previous optimism surrounding Brexit and the Bank of England’s (BOE) next move.

GBP/USD News

Gold perking up in Asia, $1,795 is key

Gold was consolidated on Monday and ended slightly lower. The price in Asia is perking up by 0.16% on the day so far and straddles the $1,780 mark between a low of $1,778.59 and $1,782.04. The easing concerns of the potential economic impact of Omicron did little to support gold.

Gold News

Solana price to drop another 50% as SOL looks for support

Solana price falls below the daily Ichimoku Cloud with the Chikou Span below the candlesticks and in open space – prime positioning for a start to a bear market. However, the true extent of how bearish Solana's future price behavior could be is represented best on a Point and Figure chart.

Read more

Cyber Monday 2021 Discounts!

Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

Subscribe now!

Forex MAJORS

Cryptocurrencies

Signatures