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  • The Sterling is on the bullish side after capturing the 1.32 major handle following a sip in the US Dollar thanks to positive trade talks between the US’ President Trump and the European Union’s Jean-Claude Juncker.
  • Higher timeframes still sees  the GBP/USD in a long-term downtrend until bulls can push the major pair into a new pattern of higher lows, which has yet to materialize on the Daily candles.
  • Upside could prove to be limited despite this week’s bullish continuation.

GBP/USD Chart, 15-Minute

Spot rate:   1.3200
Relative change:   0.09%
High:   1.3212
Low:   1.3181
Trend:   Bullish
Support 1:   1.3132 (previous day low)  
Support 2:   1.3070 (current week low)
Support 3:   1.2956 (previous week low)
Resistance 1:   1.3266 (July 17th swing high)
Resistance 2:   1.3292 (previous week high)
Resistance 3:   1.3361 (one month high)