- GBP/USD is consolidating the recent gains in a bull flag.
- GBP/USD is trading below its 50 and 100-period simple moving averages (SMA) while it is holding above the 200 SMA and the 1.3000 figure. The RSI, MACD and Stochastics indicators are starting to rise.
- However, the market might need to consolidate some more with maybe a test or the 200 SMA and the 1.3000 figure before big bulls come back and lift the market once more.
Spot rate: 1.3072
Relative change: 0.33%
High: 1.3116
Low: 1.3012
Main trend: Bullish
Short-term trend: Neutral
Resistance 1: 1.3100 figure
Resistance 2: 1.3144 key level
Resistance 3: 1.3200 figure (key support/resistance)
Resistance 4: 1.3300 figure
Resistance 5: 1.3363 July high
Resistance 6: 1.3472 June 7 high
Support 1: 1.3050 August 30 swing high, key level
Support 2: 1.3000 figure
Support 3: 1.2957 July 19 swing low
Support 4: 1.2900 figure
Share
