GBP/USD bears have reversed all previous gains made this Monday and are en route to last Friday’s lows at 1.3203. Today’s sell-off suggests that GBP/USD last 300-pip run-up since June 28 might be a bear flag in a bear trend as opposed as the start of a new bull trend. A bear breakout below the 1.3200 figure might see the bull crowded trade unwind. On the other hand, if bulls manage to keep the market above 1.3200 and reclaim Monday’s high, it would suggest that the bull trend is quite strong and higher prices might be ahead. GBP/USD 15-minute chart Spot rate: 1.3224 Relative change: -0.48% High: 1.3363 Low: 1.3189 Trend: Neutral to bearish Resistance 1: 1.3250 June 4 high Resistance 2: 1.3300-1.3314 June 22 swing high Resistance 3: 1.3350 figure Resistance 4: 1.3400 figureResistance 5: 1.3472 June’s high Support 1: 1.3200 figure Support 2: 1.3155 former breakout point Support 3: 1.3100 figure Support 4: 1.3049 current 2018 low Support 5: 1.3027 October 6, 2017 swing low FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK Conservative Party Chairman Lewis: Don’t expect confidence vote against May FX Street 3 years GBP/USD bears have reversed all previous gains made this Monday and are en route to last Friday's lows at 1.3203. Today's sell-off suggests that GBP/USD last 300-pip run-up since June 28 might be a bear flag in a bear trend as opposed as the start of a new bull trend. A bear breakout below the 1.3200 figure might see the bull crowded trade unwind. On the other hand, if bulls manage to keep the market above 1.3200 and reclaim Monday's high, it would suggest that the bull trend is quite strong and higher prices might be ahead. GBP/USD… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
