GBP/USD Price Analysis: Pound trading near four-day lows, sub-1.3000 level

GBP/USD is trading on the back foot as bulls didn’t manage to keep the market above 1.3000 figure.
The level to beat for sellers is the 1.2952 support.

Flavio Tosti Independent Analyst

GBP/USD daily chart

After the October and December bull-market, GBP/USD is trading in a rectangle consolidation above its 100/200-day simple moving averages (SMAs).

GBP/USD four-hour chart

The pound is pressuring the 1.2952 support while trading below the main SMAs. Bulls waited their chance to keep the market above the 1.3000 figure and sellers are taking the lead. A break below the 1.2952 level should lead to extra losses towards the 1.2925 and 1.2872 levels, according to the Technical Confluences Indicator. Resistances are seen near the 1.3000, 1.3033 and 1.3087 levels.

Resistance: 1.3000, 1.3033, 1.3087

Support: 1.2952, 1.2925, 1.2872

Additional key levels

GBP/USD

Overview
Today last price	1.2955
Today Daily Change	-0.0044
Today Daily Change %	-0.34
Today daily open	1.2999

Trends
Daily SMA20	1.3024
Daily SMA50	1.3064
Daily SMA100	1.2943
Daily SMA200	1.2693

Levels
Previous Daily High	1.3049
Previous Daily Low	1.2971
Previous Weekly High	1.307
Previous Weekly Low	1.2872
Previous Monthly High	1.3281
Previous Monthly Low	1.2954
Daily Fibonacci 38.2%	1.3001
Daily Fibonacci 61.8%	1.3019
Daily Pivot Point S1	1.2963
Daily Pivot Point S2	1.2928
Daily Pivot Point S3	1.2885
Daily Pivot Point R1	1.3042
Daily Pivot Point R2	1.3085
Daily Pivot Point R3	1.312

Author

Flavio Tosti

Independent Analyst

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