GBP/USD Price Analysis: Pound remains vulnerable to the downside, trading sub-1.3100 figure

GBP/USD bullish breakout from the triangle pattern is currently failing.
The level to beat for bears is the 1.3060 level.

Flavio Tosti Independent Analyst

GBP/USD daily chart

The bullish triangle breakout pattern is currently failing below the 1.3100 figure. The spot is testing the 50-day simple moving average (SMA).

GBP/USD four-hour chart

The pound is weakening below the 1.3100 figure. The market is challenging the 1.3060 support and the 50 and 100 SMAs. A decisive break below this level could lead to a bearish extension towards 1.3019 and 1.2965 support levels, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.3057
Today Daily Change	-0.0019
Today Daily Change %	-0.15
Today daily open	1.3076

Trends
Daily SMA20	1.3092
Daily SMA50	1.3056
Daily SMA100	1.2839
Daily SMA200	1.2692

Levels
Previous Daily High	1.3175
Previous Daily Low	1.3057
Previous Weekly High	1.3175
Previous Weekly Low	1.2962
Previous Monthly High	1.3515
Previous Monthly Low	1.2896
Daily Fibonacci 38.2%	1.3102
Daily Fibonacci 61.8%	1.313
Daily Pivot Point S1	1.303
Daily Pivot Point S2	1.2985
Daily Pivot Point S3	1.2912
Daily Pivot Point R1	1.3148
Daily Pivot Point R2	1.3221
Daily Pivot Point R3	1.3266

Author

Flavio Tosti

Independent Analyst

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