GBP/USD Price Analysis: Pound loses 200 pips from March’s highs vs. dollar

GBP/USD is declining sharply, now challenging the 1.3000 figure.
The level to beat for bears is the 1.2978 support.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is retracing down from the 1.3200 figure while now challenging the 50 and 100 simple moving averages (SMAs). This Tuesday the pound is down sharply vs. the dollar.

GBP/USD four-hour chart

GBP/USD is reversing down while challenging the 1.3000 figure and the 200 SMA on the four-hour chart. As the market is losing considerable steam it is likely the sellers will extend the move down towards the 1.2978, 1.2910 and 1.2870 support levels. Bullish attempts could find resistance near the 1.3060 and 1.3126 resistances according to the Technical Confluences Indicator.

Resistance: 1.3060, 1.3126, 1.3167

Support: 1.2978, 1.2910, 1.2870

Additional key levels

GBP/USD

Overview
Today last price	1.2995
Today Daily Change	-0.0132
Today Daily Change %	-1.01
Today daily open	1.3127

Trends
Daily SMA20	1.2945
Daily SMA50	1.3015
Daily SMA100	1.2994
Daily SMA200	1.2709

Levels
Previous Daily High	1.3201
Previous Daily Low	1.3035
Previous Weekly High	1.3049
Previous Weekly Low	1.2741
Previous Monthly High	1.3204
Previous Monthly Low	1.2726
Daily Fibonacci 38.2%	1.3137
Daily Fibonacci 61.8%	1.3098
Daily Pivot Point S1	1.3041
Daily Pivot Point S2	1.2955
Daily Pivot Point S3	1.2875
Daily Pivot Point R1	1.3207
Daily Pivot Point R2	1.3286
Daily Pivot Point R3	1.3372

Author

Flavio Tosti

Independent Analyst

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