GBP/USD is trading higher for the sixth consecutive day. It is currently trading near the daily low at around 1.3190. GBP/USD broke above a daily trendline suggesting that a sustained breakout above 1.3200 could mean the end of the main bear trend. It could lead to a bear capitulation and an acceleration of the current bull leg. On the other hand, failure to conclusively breakout above 1.3200 should lead to sideways trading at best and a resumption of the bear trend at worst. The major hurdles to overcome for bulls are the 1.3200, 1.3230 and 1.3250 levels. Cable bulls have currently the short-term trend on their side but they will have to prove their strength in taking over the 1.3200 level. GBP/USD 15-minute chart Spot rate: 1.3185 Relative change: -0.04% High: 1.3214 Low: 1.3171 Trend: Bearish / Risk of bullish reversal above 1.3200 Resistance 1: 1.3200 figure Resistance 2: 1.3230 supply level Resistance 3: 1.3250 June 4 high Support 1: 1.3155 former breakout point Support 2: 1.3100 figure Support 3: 1.3049 June 28 low Support 4: 1.3010 July 18 low Support 5: 1.2957 current 2018 low Support 6: 1.2908 September 5, 2017 low FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Draghi speech: Uncertainty around inflation outlook is receding FX Street 5 years GBP/USD is trading higher for the sixth consecutive day. It is currently trading near the daily low at around 1.3190. GBP/USD broke above a daily trendline suggesting that a sustained breakout above 1.3200 could mean the end of the main bear trend. It could lead to a bear capitulation and an acceleration of the current bull leg. On the other hand, failure to conclusively breakout above 1.3200 should lead to sideways trading at best and a resumption of the bear trend at worst. The major hurdles to overcome for bulls are the 1.3200, 1.3230 and 1.3250 levels. Cable… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
