GBP/USD Price Analysis: Thursday’s Doji tests buyers below 1.3200

GBP/USD struggles for clear directions after a volatile day, sidelined of late.
Doji signals reversal from previous rebound but MACD teases bull cross.
Previous support from late January holds gate for buyers, 10-DMA challenges downside.

Anil Panchal FXStreet

GBP/USD makes rounds to 1.3150 amid Friday’s initial Asian session, following a BOE-led volatile day that ended near the opening levels.

In doing so, the cable pair portrayed a Doji candlestick below a support-turned-resistance line from January 27, suggesting consolidation of the latest gains.

However, the MACD line is likely crossing the signal line from below, which in turn suggests a bull cross and may keep the buyers hopeful to conquer the 1.3205 resistance.

Following that, 21-DMA and January’s low, respectively around 1.3280 and 1.3360, will lure the GBP/USD buyers.

On the contrary, the 10-DMA level surrounding 1.3100 restricts the immediate downside of the pair ahead of a three-week-old previous resistance line near 1.3030.

During the quote’s weakness past 1.3030, the latest multi-month low of 1.3000 may act as an intermediate halt before direct GBP/USD bears towards November 2020 low around 1.2855.

GBP/USD: Daily chart

Trend: Sideways

Additional important levels

Overview
Today last price	1.3155
Today Daily Change	0.0006
Today Daily Change %	0.05%
Today daily open	1.3149

Trends
Daily SMA20	1.3309
Daily SMA50	1.3458
Daily SMA100	1.3432
Daily SMA200	1.361

Levels
Previous Daily High	1.3156
Previous Daily Low	1.3034
Previous Weekly High	1.3246
Previous Weekly Low	1.3028
Previous Monthly High	1.3644
Previous Monthly Low	1.3273
Daily Fibonacci 38.2%	1.311
Daily Fibonacci 61.8%	1.3081
Daily Pivot Point S1	1.307
Daily Pivot Point S2	1.2992
Daily Pivot Point S3	1.2949
Daily Pivot Point R1	1.3192
Daily Pivot Point R2	1.3235
Daily Pivot Point R3	1.3314

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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