- This Thursday’s breakout above 1.3200 and 100-day simple moving average likely mark the end of the main bear trend.
- GBP/USD bulls main objective is to close above the 1.3300 figure. The 50, 100 and 200-period simple moving averages are rising and widening suggesting strong upward momentum while the RSI, MACD and Stochastics are all in bullish territories.
- The next bull targets are seen at 1.3363 July high and 1.3472 June 7 high.
GBP/USD 4-hour chart
Spot rate: 1.3273
Relative change: 1%
High: 1.3298
Low: 1.3134
Main trend: Bullish
Resistance 1: 1.3300 figure
Resistance 2: 1.3363 July high
Resistance 3: 1.3472 June 7 high
Support 1: 1.3200 figure (key support/resistance)
Support 2: 1.3144 last week high
Support 3: 1.3144 last week high
Support 4: 1.3082-1.3100 supply/demand level and figure
Support 5: 1.3050 August 30 swing high, key level
Support 6: 1.3000 figure
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