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  • GBP/USD price action was dominated by UK’s politics this Monday. UK government tumbled, five casualties so far, more to come?
  • GBP/USD dropped almost 180 pips and bulls are currently supporting the price above the 1.3250 level.  
  • GBP/USD bear move was quite strong and the last move up from June 28 might be a bear flag if bulls cannot extend the uptrend above the Monday’s high.  

GBP/USD 15-minute chart  

Spot rate:               1.3260
Relative change:     -0.42%      
High:                      1.3363
Low:                       1.3189

Trend:                    Neutral to bearish

Resistance 1:        1.3300-1.3314 June 22 swing high
Resistance 2:        1.3350 figure
Resistance 3:        1.3400 figure
Resistance 4:        1.3472 June’s high

Support 1:             1.3250 June 4 high
Support 2:             1.3200 figure
Support 3:             1.3155 former breakout point
Support 4:             1.3100 figure
Support 5:             1.3049 current 2018 low
Support 6:             1.3027 October 6, 2017 swing low