GBP/USD Price Analysis: Pound off daily lows, trades sub-1.3147 resistance

 

 

GBP/USD is evolving in a bullish channel above the main daily simple moving averages (SMAs). However, 2020 kicked off with a potential lower high just below the 1.3300 handle.

   

 

The cable is starting to show a lack of bullish enthusiasm below the 1.3200 handle and the 50 SMA on the four-hour chart. If the bears attack the 1.3100 handle, the market can decline toward 1.3060 and the 1.2996 level. On the flip side, buyers would need to recapture the 1.3207 resistance to travel towards the 1.3283 level, according to the Technical Confluences Indicator.