Home GBP/USD Price Analysis: Pound hovering below the 1.3000 figure
FXStreet News

GBP/USD Price Analysis: Pound hovering below the 1.3000 figure

FX Street
Published date:
  • GBP/USD is bouncing from the 2020 lows as the spot formed a descending wedge. 
  • The levels to beat for buyers is the 1.2995 level.
 

GBP/USD daily chart 

 
Following the October and December bull-runs, 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 pulling back up after the spot formed a descending wedge pattern. Buyers are trying to break the 1.2995 resistance to push the spot towards the 1.3035 and 1.3089 levels. Support is seen near the 1.2954 and 1.2914 price levels, according to the Technical Confluences Indicator.
 
 
 
Resistance: 1.2995, 1.3035, 1.3089
Support: 1.2954, 1.2914, 1.2887 
   
 

Additional key levels

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2026