GBP/USD Price Analysis: Pound pressuring the 1.3172 resistance vs. US dollar

GBP/USD is consolidating the bullish breakout above the 1.3100 handle.
The level to beat for bulls is the 1.3172 resistance.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is trading in a bullish channel above the main SMAs. However, the year started with a potential lower high just below the 1.3300 hanlde that bulls will need to overcome.

GBP/USD four-hour chart

The market is pressuring the 1.3172 resistance level while trading above the main SMAs on the four-hour chart. Buyers want to capitalize on the recent bullish breakout and break the 1.3172 level to drive the quote towards the 1.3227 and 1.3290 levels, according to the Technical Confluences Indicator. On the flip side, bears could take the lead on a break below the 1.3144 level. Further down lie the 1.3100/1.3076 support zone.

Additional key levels

GBP/USD

Overview
Today last price	1.3163
Today Daily Change	0.0089
Today Daily Change %	0.68
Today daily open	1.3074

Trends
Daily SMA20	1.3118
Daily SMA50	1.2997
Daily SMA100	1.2709
Daily SMA200	1.2692

Levels
Previous Daily High	1.3161
Previous Daily Low	1.3053
Previous Weekly High	1.3285
Previous Weekly Low	1.3053
Previous Monthly High	1.3515
Previous Monthly Low	1.2896
Daily Fibonacci 38.2%	1.3094
Daily Fibonacci 61.8%	1.312
Daily Pivot Point S1	1.3031
Daily Pivot Point S2	1.2988
Daily Pivot Point S3	1.2923
Daily Pivot Point R1	1.3139
Daily Pivot Point R2	1.3204
Daily Pivot Point R3	1.3246

Author

Flavio Tosti

Independent Analyst

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