Search ForexCrunch
  • GBP/USD main trend is transitioning back to bullish as the market broke above the bull flag formation and is trading above the 50-day simple moving average (not shown).  
  • GBP/USD is trading above the 50 and 200-period simple moving average while the RSI, MACD and Stochastics are constructive to the upside.
  • GBP/USD bulls next objective is to break above 1.3100 and the 100-period simple moving average to target 1.3150 (September 21 low).  

GBP/USD 4-hour chart  

Spot rate:                         1.3093
Relative change:              0.56%      
High:                                1.3099
Low:                                 1.3003

Main trend:                      Bullish

Resistance 1:                  1.3100 figure
Resistance 2:                  1.3150 September 21 low
Resistance 3:                  1.3200 figure

   
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