- GBP/USD is evolving in a bull trend as it is trading above its 50, 100 and 200-period simple moving average.
- After breaking from the bull flag, GBP/USD almost reached the 1.3200 figure. The market should continue to grind higher. The next main target for bulls becomes the 1.3300 figure and small pullbacks down along the way can be expected.
- A bear breakout below 1.2957 would likely invalidate the bullish bias.
GBP/USD 4-hour chart
Spot rate: 1.3179
Relative change: 0.28%
High: 1.3185
Low: 1.3133
Main trend: Bullish
Resistance 1: 1.3200 figure
Resistance 2: 1.3300 figure
Resistance 3: 1.3370 July 9 high
Support 1: 1.3150 September 21 low
Support 2: 1.3100 figure
Support 3: 1.3050 August 30 swing high, key level
Support 4: 1.3028 October 8 low
Support 5: 1.3000 figure
Support 6: 1.2957 July 19 swing low
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