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  • 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.    

GBP/USD 4-hour chart

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