Search ForexCrunch
  • 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