GBP/USD Technical Analysis: Cable trading near daily lows, bears eyeing 1.3200 figure
|- GBP/USD is currently trading near its daily lows as it is challenging Tuesday’s low at 1.3223 and the bullish trendline since June 28.
- GBP/USD is struggling to build any convincing bullish momentum as the US Dollar is having a boost across the board, especially against the Yen.
- A strong breakout below the current weekly low near 1.3200 should confirm the bearish bias and open the gates to 1.3155 former breakout point and 1.3100 figure.
GBP/USD 15-minute chart
Spot rate: 1.3214
Relative change: -0.46%
High: 1.3286
Low: 1.3206
Trend: Neutral to bearish
Resistance 1: 1.3250 June 4 high
Resistance 2: 1.3300 figure
Resistance 3: 1.3363 weekly high
Resistance 4: 1.3400 figure
Resistance 5: 1.3472 June’s high
Support 1: 1.3200 figure
Support 2: 1.3155 former breakout point
Support 3: 1.3100 figure
Support 4: 1.3049 current 2018 low
Support 5: 1.3027 October 6, 2017 swing low
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