- The Sterling is catching a quick bounce off of the US Dollar taking a step back, but Brexit concerns and Friday’s looming UK GDP will keep the upside capped off.
- Sterling sees a new low for 2018 this week, and further declines will have the pair in freefall below the 1.2900 handle.
- Daily candles are trapped in a vicious bear trend, and hopes of a bounceback are becoming haphazard.
Spot rate: | 1.2954 |
Relative change: | 0.13% |
High: | 1.2959 |
Low: | 1.2930 |
Trend: | Sideways |
Support 1: | 1.2919 (current week low; 2018 bottom) |
Support 2: | 1.2900 (major technical level) |
Support 3: | 1.2865 (S2 daily pivot) |
Resistance 1: | 1.3010 (current week high) |
Resistance 2: | 1.3075 (61.8% Fibo retracement level) |
Resistance 3: | 1.3172 (previous week high) |