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  • The Sterling is popping in the early overnight session for Wednesday as Brexit headlines cross the wires, with hopes on the rise for a workable resolution being imminent.
  • The GBP/USD has touched into a fresh weekly high on the news at 1.3175 and buyers will be looking for a continuation of momentum.
  • Hourly Stochastics and RSI are pointing towards the potential for a continued bullish push, crossing their medians but remaining below overbought conditions.

GBP/USD Chart, 15-Minute

Spot rate 1.3166
Relative change 0.15%
High 1.3175
Low 1.3135
   
Trend Sideways to bullish
   
Support 1 1.3118 (previous day high)
Support 2 1.3057 (200-hour EMA)
Support 3 1.3034 (50-day EMA)
   
Resistance 1 1.3213 (July 26th swing high)
Resistance 2 1.3294 (200-day EMA)
Resistance 3 1.3350 (major technical level)

 

Expert score

5

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