Jan 27, 2020
GBP/USD Price Analysis: Pound remains vulnerable to the downside, trading sub-1.3100 figure
- The bullish breakout from the triangle pattern is currently failing.
- The level to beat for bears is the 1.3060 level.
GBP/USD daily chart
The bullish triangle breakout pattern is currently failing below the 1.3100 figure. The spot is testing the 50-day simple moving average (SMA).
GBP/USD four-hour chart
The pound is weakening below the 1.3100 figure. The market is challenging the 1.3060 support and the 50 and 100 SMAs. A decisive break below this level could lead to a bearish extension towards 1.3019 and 1.2965 support levels, according to the Technical Confluences Indicator.
Additional key levels