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GBP/USD Price Analysis: Pound sinks further in 6-week lows, bearish

  • GBP/USD is under heavy bearish pressure near 6-week lows.  
  • The level to beat for sellers is the 1.2100 figure. 
 

GBP/USD daily chart

 
GBP/USD is trading below the main SMAs on the daily chart suggesting a bearish bias as the market is under heavy selling pressure in 6-week lows. 
 
 

GBP/USD four-hour chart

 
GBP/USD is trading down below its main SMAs on the four-hour chart as the bears are nearing the 1.2100 figure. Sellers remain in full control of GBP/USD which is seen keeping printing lower prices and reach the 1.2100 and 1.1950 levels in the medium-term. Occasional bullish attempts could find resistance near 1.2200 and 1.2300 levels. 
 
 
 
Resistance: 1.2200, 1.2300, 1.2400
Support: 1.2100, 1.1950, 1.1900
 
  

Additional key levels

GBP/USD

Overview
Today last price1.2115
Today Daily Change-0.0112
Today Daily Change %-0.92
Today daily open1.2227
 
Trends
Daily SMA201.2388
Daily SMA501.2344
Daily SMA1001.268
Daily SMA2001.2662
 
Levels
Previous Daily High1.2242
Previous Daily Low1.2166
Previous Weekly High1.2504
Previous Weekly Low1.2266
Previous Monthly High1.2648
Previous Monthly Low1.2165
Daily Fibonacci 38.2%1.2195
Daily Fibonacci 61.8%1.2213
Daily Pivot Point S11.2181
Daily Pivot Point S21.2135
Daily Pivot Point S31.2105
Daily Pivot Point R11.2257
Daily Pivot Point R21.2288
Daily Pivot Point R31.2334

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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