- GBP/USD is currently challenging the weekly high near the 1.3175 level. GBP/USD is trading above all its main simple moving averages (50, 100 and 200 SMA) suggesting a bullish bias ahead of the Trump-Juncker meeting scheduled at 17:30 GMT.
- Bulls objective is to clearly break above the current daily/weekly high at 1.3175 in order to reach the 1.3200 figure and 1.3230 supply level.
- On the other hand, bears need to overcome the main SMA and the 1.3100 figure in order to create a credible bear reversal.
GBP/USD 15-minute chart
Spot rate: 1.3175
Relative change: 0.25%
High: 1.3178
Low: 1.3137
Trend: Bearish / Risk of bullish reversal
Resistance 1: 1.3200 figure
Resistance 2 1.3230 supply level
Resistance 3: 1.3250 June 4 high
Support 1: 1.3155 former breakout point
Support 2: 1.3100 figure
Support 3: 1.3049 June 28 low
Support 4: 1.3010 July 18 low
Support 5: 1.2957 current 2018 low
Support 6: 1.2908 September 5, 2017 low