GBP/USD Price Analysis: Pound trades at fresh 2020 lows, challenging the 1.2900 figure

GBP/USD is under heavy bearish pressure challenging the December lows.
The level to beat for bears is the 1.2900 support.

Flavio Tosti Independent Analyst

GBP/USD daily chart

After the October and December bullish impulses, GBP/USD is trading in a rectangle consolidation above the 100/200-day simple moving averages (SMAs). The NFP came in better than expected at 225K vs 160K forecast by analysts; giving an extra boost to USD.

GBP/USD four-hour chart

GBP/USD is under bearish pressure as the spot is trying to break the 1.2900 figure. A break below the above-mentioned level can lead to further weakness towards the 1.2829 figure and the 1.2829 level. Resistances are seen near the 1.2938, 1.2972 level and 1.3000 figure, according to the Technical Confluences Indicator.

Resistance: 1.2938, 1.2972, 1.3000

Support: 1.2900, 1.2829, 1.2750

Additional key levels

GBP/USD

Overview
Today last price	1.2902
Today Daily Change	-0.0023
Today Daily Change %	-0.18
Today daily open	1.2925

Trends
Daily SMA20	1.3045
Daily SMA50	1.308
Daily SMA100	1.2894
Daily SMA200	1.2695

Levels
Previous Daily High	1.3004
Previous Daily Low	1.2921
Previous Weekly High	1.3207
Previous Weekly Low	1.2974
Previous Monthly High	1.3281
Previous Monthly Low	1.2954
Daily Fibonacci 38.2%	1.2953
Daily Fibonacci 61.8%	1.2972
Daily Pivot Point S1	1.2896
Daily Pivot Point S2	1.2867
Daily Pivot Point S3	1.2813
Daily Pivot Point R1	1.2979
Daily Pivot Point R2	1.3033
Daily Pivot Point R3	1.3062

Author

Flavio Tosti

Independent Analyst

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