- GBP/USD losing almost 100 pips from daily highs as British Foreign Secretary Boris Johnson resigns.
- The damage bears have inflicted is quite solid and bulls will need to gather lots of strength to keep the market from falling further.
- GBP/USD is currently holding above the 200-period simple moving avearge however a breakout below it and the 1.3250 level might induce bulls to sell their short positions after the 100-pip sell-off.
Spot rate: 1.3274
Relative change: 0.10%
High: 1.3363
Low: 1.3259
Trend: Neutral
Resistance 1: 1.3300-1.3314 June 22 swing high
Resistance 2: 1.3350 figure
Resistance 3: 1.3400 figure
Resistance 4: 1.3472 June’s high
Support 1: 1.3250 June 4 high
Support 2: 1.3200 figure
Support 3: 1.3155 former breakout point
Support 4: 1.3100 figure
Support 5: 1.3049 current 2018 low
Support 6: 1.3027 October 6, 2017 swing low
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