GBP/USD Technical Analysis: GBP/USD bulls put an end to last Friday’s carnage and support Cable above 1.3050 key support
|- GBP/USD main bear trend is switching to bullish.
- Friday’s sell-off is being bought as bulls are supporting the market above the 1.3050 and the 100-period simple moving average.
- GBP/USD is trading above its 50, 100 and 200-period simple moving averages while the RSI indicator is trading above 50 and the Stochastics is rising from oversold condition. All suggesting that the bias remains bullish while GBP/USD trades above 1.3050 key support
GBP/USD-hour chart
Spot rate: 1.3143
Relative change: 0.51%
High: 1.3162
Low: 1.3063
Main trend: Bullish
Resistance 1: 1.3144 key level
Resistance 2: 1.3200 figure (key support/resistance)
Resistance 3: 1.3300 figure
Resistance 4: 1.3363 July high
Resistance 5: 1.3472 June 7 high
Support 1: 1.3082-1.3100 supply/demand level and figure
Support 2: 1.3050 August 30 swing high, key level
Support 3: 1.3000 figure
Support 4: 1.2957 July 19 swing low
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