GBP/USD Price Analysis: Pound dropping sharply, nearing 1.3000 figure

The market is in search of a clear direction.
The level to beat for sellers is the 1.2973 level.

Flavio Tosti Independent Analyst

GBP/USD daily chart

The market is essentially ranging above the 100/200-day simple moving averages (SMAs) and an ascending trendline.

GBP/USD four-hour chart

The pound is dropping sharply from the upper range of the last month of trading. Bears are likely back in control and a break below the 1.3010 support can lead to the 1.2967 and 1.2900 levels, according to the Technical Confluences Indicator. Resistances are seen near the 1.3035, 1.3080 and 1.3129 levels.

Resistance: 1.3035, 1.3080, 1.3129

Support: 1.3010, 1.2967, 1.2900

Additional key levels

GBP/USD

Overview
Today last price	1.3018
Today Daily Change	-0.0187
Today Daily Change %	-1.42
Today daily open	1.3205

Trends
Daily SMA20	1.3071
Daily SMA50	1.3073
Daily SMA100	1.2874
Daily SMA200	1.2696

Levels
Previous Daily High	1.3207
Previous Daily Low	1.3076
Previous Weekly High	1.3207
Previous Weekly Low	1.2974
Previous Monthly High	1.3281
Previous Monthly Low	1.2954
Daily Fibonacci 38.2%	1.3157
Daily Fibonacci 61.8%	1.3126
Daily Pivot Point S1	1.3118
Daily Pivot Point S2	1.3032
Daily Pivot Point S3	1.2987
Daily Pivot Point R1	1.3249
Daily Pivot Point R2	1.3294
Daily Pivot Point R3	1.338

Author

Flavio Tosti

Independent Analyst

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