- GBP/USD main bear trend is at risk of a bullish reversal up above 1.3050.
- GBP/USD bulls advance is capped by a multi-month bear trendline, the 50-day simple moving average and the 1.3050 figure. The market is set to remain bearish below 1.3050 level.
- However, a bull breakout above 1.3050 would negate the bearish scenario and lead to an acceleration to 1.3200 level.
Spot rate: 1.3003
Relative change: -0.18%
High: 1.3044
Low: 1.2985
Main trend: Bearish below 1.3050
Resistance 1: 1.3050, 50-day simple moving average, multi-month trendline
Resistance 2: 1.3082-1.3100 supply/demand level and figure
Resistance 3: 1.3214 July 26 swing high
Support 1: 1.2957 July 19 swing low
Support 2: 1.2937 August 22 swing high
Support 2: 1.2900 figure
Support 3: 1.2868 August 22 low
Support 4: 1.2838, August 10 high
Support 5: 1.2800 figure
Support 6: 1.2700-1.2723 zone, figure and August 10 low
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