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GBP/USD Technical Analysis: Sterling struggling to push away from 1.31

  • Sterling looking for lift  after Monday’s slide, but Dollar buying across the broader market is making the decisions.
  • Tuesday has Manufacturing PMIs on the docket; a miss for data could spark a sell-off once again.
  • Brexit headlines could develop market sentiment through Tuesday.

GBP/USD Chart, 1-Hour

Spot rate:   1.3143
Relative change: Negligible
High:   1.3148
Low:   1.3114
   
Trend:   Bearish
   
Support 1:   1.3112 (61.8% Fibo retracement level)
Support 2:   1.3049 (one week low)
Support 3:   1.2968 (S3 daily pivot)
   
Resistance 1:   1.3213 (Friday high)
Resistance 2:   1.3259 (R1 daily pivot)
Resistance 3:   1.3310 (R2 daily pivot)

 

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