GBP/USD Price Analysis: Pound under pressure, trading sub 1.300 figure

GBP/USD is challenging the lower end of its range.
The level to beat for bears is the 1.2977 support.

Flavio Tosti Independent Analyst

GBP/USD daily chart

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

GBP/USD four-hour chart

The pound is under pressure in the lower end of its range. Bears are attacking the 1.2977 support level as they likely intend to drive the price further down towards 1.2940 and the 1.2900 figure. Resistances are seen near the 1.3010, 1.3040 and 1.3085 levels, according to the Technical Confluences Indicator.

Resistance: 1.3010, 1.3040, 1.3085

Support: 1.2977, 1.2940, 1.2900

Additional key levels

GBP/USD

Overview
Today last price	1.2984
Today Daily Change	-0.0050
Today Daily Change %	-0.38
Today daily open	1.3034

Trends
Daily SMA20	1.3058
Daily SMA50	1.3078
Daily SMA100	1.2885
Daily SMA200	1.2696

Levels
Previous Daily High	1.3047
Previous Daily Low	1.2941
Previous Weekly High	1.3207
Previous Weekly Low	1.2974
Previous Monthly High	1.3281
Previous Monthly Low	1.2954
Daily Fibonacci 38.2%	1.3007
Daily Fibonacci 61.8%	1.2981
Daily Pivot Point S1	1.2968
Daily Pivot Point S2	1.2901
Daily Pivot Point S3	1.2862
Daily Pivot Point R1	1.3074
Daily Pivot Point R2	1.3113
Daily Pivot Point R3	1.318

Author

Flavio Tosti

Independent Analyst

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