- GBP/USD broke below a key support level at 1.2957 as the bears took over the market.
- GBP/USD is trading below its 50, 100 and 200-period simple moving averages while the RSI, MACD and Stochastics indicators are in negative territories.
- Bears key targets to the downside are likely located near 1.2900 figure and 1.2800 figure.
GBP/USD 4-hour chart
Spot rate: 1.2947
Relative change: 0.05%
High: 1.2958
Low: 1.2937
Main trend: Bearish
Resistance 1: 1.2957 July 19 swing low
Resistance 2: 1.3000 figure
Resistance 3: 1.3050 August 30 swing high, key level
Resistance 4: 1.3100 figure
Resistance 5: 1.3144 key level
Support 1: 1.2900 figure
Support 2: 1.2800 figure
Support 3: 1.2700 figure