GBP/USD Technical Analysis: Cable bulls rebound from 1.2957 key support and challenge the 1.3000 figure
|- GBP/USD is trading in a bear trend below the 200-period simple moving average.
- GBP/USD bulls have rebounded from the 1.2957 key support level and are now challenging 1.3000 figure. The market might be supported in the New York session as bulls will try to defend the 1.3000 figure. However, it would be unlikely that an attack to 1.3100 would be in store this Tuesday as technical indicators remain predominantly neutral.
- All in all the market is in balance between the 1.2957 and 1.3100 figure.
Spot rate: 1.2996
Relative change: 0.24%
High: 1.3045
Low: 1.2937
Main trend: Bearish to neutral
Resistance 1: 1.3000 figure
Resistance 2: 1.3028 October 8 low
Resistance 3: 1.3050 August 30 swing high, key level
Resistance 4: 1.3100 figure
Resistance 5: 1.3140 October 16 low
Support 1: 1.2957 July 19 swing low
Support 2: 1.2921 October low
Support 3: 1.2900 figure
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