GBP/USD Price Analysis: Pound off session highs, holds above 1.3000 level

GBP/USD is gaining steam above the 1.3000 figure.
The level to beat for buyers is the 1.3080 resistance.

Flavio Tosti Independent Analyst

GBP/USD daily chart

Following the October and December bull-run, pound/dollar is trading in a rectangle consolidation above the 100/200-day simple moving averages (SMAs). The spot is trading below the 1.3100 and 50 SMA.

GBP/USD four-hour chart

The pound is rebounding from the 1.3000 support while challenging the 200 SMAs on the four-hour chart. Bulls seem unwilling to let go, however they need to overcome the 1.3080 level to reach the upper side of the range near 1.3125 and 1.3160 levels. Supports are likely located near 1.3000, 1.2958 and 1.2931 level, according to the Technical Confluences Indicator.

Resistance: 1.3080, 1.3125, 1.3160

Support: 1.3000, 1.2958, 1.2931

Additional key levels

GBP/USD

Overview
Today last price	1.302
Today Daily Change	0.0018
Today Daily Change %	0.14
Today daily open	1.3002

Trends
Daily SMA20	1.3026
Daily SMA50	1.3068
Daily SMA100	1.2936
Daily SMA200	1.2693

Levels
Previous Daily High	1.3054
Previous Daily Low	1.2998
Previous Weekly High	1.307
Previous Weekly Low	1.2872
Previous Monthly High	1.3281
Previous Monthly Low	1.2954
Daily Fibonacci 38.2%	1.3019
Daily Fibonacci 61.8%	1.3033
Daily Pivot Point S1	1.2982
Daily Pivot Point S2	1.2962
Daily Pivot Point S3	1.2926
Daily Pivot Point R1	1.3038
Daily Pivot Point R2	1.3074
Daily Pivot Point R3	1.3094

Author

Flavio Tosti

Independent Analyst

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