- GBP/USD is testing the 1.3155 level, the former breakout point. Cable momentum is bearish as GBP/USD formed a death cross, the 50-period simple moving average crossed below the 200-period SMA on the 15-minute chart.
- If GBP/USD can conclusively break below the 1.3155 level then a retest of the 2018 low at 1.3146 can be on the cards for Sterling bears.
Spot rate: 1.3154
Relative change: -0.52%
High: 1.3235
Low: 1.3149
Trend: Bearish
Resistance 1: 1.3185 intraday congestion
Resistance 2: 1.3200 figure
Resistance 3: 1.3235 Tuesday’s high
Resistance 4: 1.3260, intraday swing high Tuesday
Resistance 5: 1.3300 key support
Support 1: 1.3155 breakout point
Support 2: 1.3146, current 2018 low
Support 3: 1.3000 figure
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