- GBP/USD is staying supported above the 1.3100 level as the FOMC statement maintains the target interest rate in 1.75-2.00%.
- GBP/USD keeps the trading range theme intact ahead of the Bank of England Super Thursday.
- GBP/USD bulls will set their eyes on the 1.3200 in an attempt to reverse the multi-month bear trend while bears will try to drive the market below the 1.3100 level in order to resume the bear trend. Both parties are in equilibrium as market participants are expecting that the Bank of England will deliver the only rate hike in 2018.
GBP/USD 15-minute chart
Spot rate: 1.3125
Relative change: 0.00%
High: 1.3145
Low: 1.3095
Trend: Bearish / Bullish above 1.3200
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
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