GBP/USD Price Analysis: Pound tumbles to its lowest since October 2019 vs. US dollar

GBP/USD is trading in four-month lows, nearing the 1.2700 figure.
GBP/USD could extend losses towards the 1.2657 and 1.2600 levels.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is dropping below the 1.2800 figure and the 50/100-day simple moving averages (SMAs) as the market is trading at levels not seen since October 2019.

GBP/USD four-hour chart

Pound/Dollar is dropping sharply while nearing the 1.2700 figure. The currency pair remains under pressure below its main SMAs. Downside targets can be seen near the 1.2700, 1.2657 and 1.2600 levels. On the flip side, bullish attempts could find resistance near the 1.2820, 1.2858 and 1.2900 levels, according to the Technical Confluences Indicator.

Resistance: 1.2820, 1.2858, 1.2900

Support: 1.2700, 1.2657, 1.2600

Additional key levels

GBP/USD

Overview
Today last price	1.2745
Today Daily Change	-0.0146
Today Daily Change %	-1.13
Today daily open	1.2891

Trends
Daily SMA20	1.2973
Daily SMA50	1.3028
Daily SMA100	1.2987
Daily SMA200	1.27

Levels
Previous Daily High	1.2946
Previous Daily Low	1.286
Previous Weekly High	1.3054
Previous Weekly Low	1.2849
Previous Monthly High	1.3281
Previous Monthly Low	1.2954
Daily Fibonacci 38.2%	1.2893
Daily Fibonacci 61.8%	1.2914
Daily Pivot Point S1	1.2852
Daily Pivot Point S2	1.2813
Daily Pivot Point S3	1.2766
Daily Pivot Point R1	1.2938
Daily Pivot Point R2	1.2985
Daily Pivot Point R3	1.3024

Author

Flavio Tosti

Independent Analyst

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