GBP/USD Price Analysis: Pound rebounds from session lows, trades near 1.2500 figure

GBP/USD bullish recovery remains intact despite the small dip to the 1.2500 figure.
The level to beat for bulls is the 1.2600 resistance.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is dipping down while rejecting the 1.2600 figure and the 200 SMA on the daily chart.

GBP/USD four-hour chart

The cable is trading above its main SMAs on the four-hour chart suggesting a positive bias in the medium-term. The spot is bouncing from the 1.2500 figure as the market retains its bullishness still making higher highs and lows. However, bulls would need a daily close above the 1.2600 figure en route to the 1.2700 and 1.2800 levels on the way up. On the flip side, support is expected to emerge near the 1.2500 and 1.2400 level near the 50/200 SMAs.

Resistance: 1.2600, 1.2700, 1.2800

Support: 1.2500, 1.2400, 1.2300

Additional key levels

GBP/USD

Overview
Today last price	1.2498
Today Daily Change	-0.0128
Today Daily Change %	-1.01
Today daily open	1.2626

Trends
Daily SMA20	1.2172
Daily SMA50	1.2579
Daily SMA100	1.2829
Daily SMA200	1.2657

Levels
Previous Daily High	1.2648
Previous Daily Low	1.2503
Previous Weekly High	1.2487
Previous Weekly Low	1.2165
Previous Monthly High	1.3201
Previous Monthly Low	1.1412
Daily Fibonacci 38.2%	1.2593
Daily Fibonacci 61.8%	1.2558
Daily Pivot Point S1	1.2537
Daily Pivot Point S2	1.2448
Daily Pivot Point S3	1.2392
Daily Pivot Point R1	1.2681
Daily Pivot Point R2	1.2737
Daily Pivot Point R3	1.2826

Author

Flavio Tosti

Independent Analyst

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