GBP/USD Price Analysis: Pound easing from weekly high, trades above 1.3000 figure



GBP/USD daily chart 

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

GBP/USD four-hour chart

The pound is reversing up from multi-week lows as GBP/USD spot is challenging the 1.3000 figure. The market is easing from the weekly high however, bulls are likely back in control and the spot should attempt to break above the 1.3038 resistance to reach the 1.3079 and 1.3160 resistances. Support is seen near the 1.299 and 1.2957 price levels, according to the Technical Confluences Indicator.

Resistance: 1.3038, 1.3079, 1.3160
Support: 1.2998, 1.2957, 1.2920

Additional key levels


Today last price1.3018
Today Daily Change-0.0030
Today Daily Change %-0.23
Today daily open1.3048


Daily SMA201.3024
Daily SMA501.3073
Daily SMA1001.2921
Daily SMA2001.2692


Previous Daily High1.307
Previous Daily Low1.2944
Previous Weekly High1.3184
Previous Weekly Low1.2882
Previous Monthly High1.3281
Previous Monthly Low1.2954
Daily Fibonacci 38.2%1.3022
Daily Fibonacci 61.8%1.2992
Daily Pivot Point S11.2972
Daily Pivot Point S21.2895
Daily Pivot Point S31.2846
Daily Pivot Point R11.3098
Daily Pivot Point R21.3147
Daily Pivot Point R31.3224