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  • 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.

GBP/USD 15-minute chart

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