- Sterling recovery beginning to stall out at the top of the current bull channel.
- Hourly MCAD, Stochastics are beginning to turn bearish in overbought territory.
- Upcoming London session has little GBP data to spur on a continuation, could see a correction back into lower channel boundary.
Spot rate: 1.3401
Relative change: 0.15%
High: 1.3416
Low: 1.3375
Trend: Bullish
Support 1: 1.3375 (day’s low)
Support 2: 1.3300 (major psychological level)
Support 3: 1.3253 (June 1st low)
Resistance 1: 1.3421 (June 24th swing high)
Resistance 2: 1.3490 (two-week high)
Resistance 3: 1.3540 (R3 1-Day pivot)
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