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  • The Sterling is on hold near 1.2770 as GBP traders await the UK’s latest earnings report and employment rate numbers.
  • After a hard sell-off bidders have managed to keep further declines contained above last week’s bottom, a major low for the GBP/USD, but upwards momentum remains limited.
  • Brexit headlines will continue to be a sticking point as UK-EU negotiations are set to resume soon.

GBP/USD Chart, 15-Minute

Spot rate: 1.2772
Relative change:   Negligible
High: 1.2775
Low: 1.2748
   
Trend: Sideways to bullish
   
Support 1:   1.2748 (current day low)
Support 2: 1.2722 (previous week low; major technical bottom)
Support 3: 1.2662 (S2 daily pivot)
   
Resistance 1: 1.2790 (current day high)
Resistance 2: 1.2894 (38.2% Fibo retracement level)
Resistance 3: 1.3172 (two-week high)