- GBP/USD has found support near the 1.3100 level for the second consecutive day as GBP/USD is consolidating last Thursday’s drop.
- GBP/USD bulls are working at keeping the market above the 50,100 and 200-period simple moving average, suggesting building bullish momentum.
- Resistances to the upside are likely located near 1.3155 and the 1.3200 figure while supports are likely located near the 1.3100-1.3076 area and 1.3049 June 28 low. A bear breakout below 1.3100-1.3076 area can lead to the resumption of the bear trend.
Spot rate: 1.3117
Relative change: 0.11%
High: 1.3139
Low: 1.3097
Trend: Bearish / Bullish correction
Resistance 1: 1.3155 former breakout point
Resistance 2: 1.3200 figure
Resistance 3: 1.3230 supply level
Resistance 4: 1.3250 June 4 high
Support 1: 1.3100-1.3076 area, figure and weekly low
Support 2: 1.3049 June 28 low
Support 3: 1.3010 July 18 low
Support 4: 1.2957 current 2018 low
Support 5: 1.2908 September 5, 2017 low
Share
