GBP/USD trades 0.18% lower on Tuesday and the next major support is at 1.3010. Tomorrows UK GDP number could cause some volatility. GBP/USD 1-hour chart Cable has been trading slightly softer on Tuesday but GBP is not the major underperformer in the G6. Tomorrow could be a big session for GBP as the latest prelim GDP figures are set to be released. The analysts surveyed are estimating a fall of 22.4% for the year on year figure. Today the latest employment figures didn’t really make for good reading but the number is largely redundant as the furlough scheme is still running. Looking closer at the chart, the key feature is the black upward sloping trendline. The trendline has four touches and this makes a break more significant if it does happen. Just below that the next support level is at 1.3010. On the topside, the red trendline is the next resistance but the blue horizontal resistance line at 1.3130 is the main level to keep an eye on. Above that area, if the bulls are looking to keep the trend moving then the high of 1.3185 would need to be broken. The indicators are looking bearish at the moment. The MACD histogram is red and the signal lines have just dipped below the zero line. The Relative Strength Index is heading toward the oversold level but there is still room to the downside. It is hard to say if this trend is over. Right now this is just a sideways consolidation phase and any definitive break of 1.30 area could confirm the trend change. The aforementioned GDP data on Wednesday could be the catalyst so keep an eye on the news. Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Wall Street Close: Down as markets guess that Congress underestimates the economic tidal wave FX Street 2 years GBP/USD trades 0.18% lower on Tuesday and the next major support is at 1.3010. Tomorrows UK GDP number could cause some volatility. GBP/USD 1-hour chart Cable has been trading slightly softer on Tuesday but GBP is not the major underperformer in the G6. Tomorrow could be a big session for GBP as the latest prelim GDP figures are set to be released. The analysts surveyed are estimating a fall of 22.4% for the year on year figure. Today the latest employment figures didn't really make for good reading but the number is largely redundant as the furlough scheme is still… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.