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.

Flavio Tosti Independent Analyst

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 price	1.2115
Today Daily Change	-0.0112
Today Daily Change %	-0.92
Today daily open	1.2227

Trends
Daily SMA20	1.2388
Daily SMA50	1.2344
Daily SMA100	1.268
Daily SMA200	1.2662

Levels
Previous Daily High	1.2242
Previous Daily Low	1.2166
Previous Weekly High	1.2504
Previous Weekly Low	1.2266
Previous Monthly High	1.2648
Previous Monthly Low	1.2165
Daily Fibonacci 38.2%	1.2195
Daily Fibonacci 61.8%	1.2213
Daily Pivot Point S1	1.2181
Daily Pivot Point S2	1.2135
Daily Pivot Point S3	1.2105
Daily Pivot Point R1	1.2257
Daily Pivot Point R2	1.2288
Daily Pivot Point R3	1.2334

Author

Flavio Tosti

Independent Analyst

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