- GBP/USD bears want to break below 1.2957 key level in order to re-establish a strong bearish bias.
- GBP/USD rejected 1.3000 figure while it is trading below its 50, 100 and 200-period simple moving average. The RSI, MACD and Stochastics indicators are in mild negative territories. GBP/USD looks set for a retest of 1.2957 level (July 19 swing low).
- A bear breakout below 1.2957 would open the gates to 1.2900 and 1.2800 figure
Spot rate: 1.2993
Relative change: 0.11%
High: 1.3024
Low: 1.2962
Main trend: Bullish
Short-term trend: Bearish
Resistance 1: 1.3000 figure
Resistance 2: 1.3050 August 30 swing high, key level
Resistance 3: 1.3100 figure
Resistance 4: 1.3144 key level
Resistance 5: 1.3200 figure (key support/resistance)
Resistance 6: 1.3300 figure
Resistance 7: 1.3363 July high
Resistance 8: 1.3472 June 7 high
Support 1: 1.2957 July 19 swing low
Support 2: 1.2900 figure
Support 3: 1.2800 figure