GBP/USD Technical Analysis: GBP/USD keeps falling and hits a new 2018 low
|- GBP/USD has reached a new 2018 low at 1.2826 as the bears are pushing Cable into oversold territories and beyond most trendlines on the daily chart. GBP/USD has now exceeded its average daily range of 82 by 4 pips.
- GBP/USD bears next targets are likely located near 1.2774 August 24, 2017 low and 1.2700 figure. Bulls will try to create a reversal by first targeting 1.2900-1.2923 area but it will not be an easy task as they have to face strong bearish pressure.
GBP/USD 15-minute chart
GBP/USD daily chart
Spot rate: 1.2828
Relative change: -0.40%
High: 1.2912
Low: 1.2826
Trend: Bearish
Resistance 1: 1.2900-1.2923 area, figure and August 7 low
Resistance 2: 1.2957 July 17 low
Resistance 3: 1.2975 August 3 low
Resistance 4: 1.3000-1.3010 area, figure and July 18 low
Resistance 5: 1.3049 June 28 low
Resistance 6: 1.3100-1.3076 area, figure and July 24 low
Resistance 7: 1.3155 former breakout point
Resistance 8: 1.3200 figure
Resistance 9: 1.3230 supply level
Resistance 10: 1.3250 June 4 high
Support 1: 1.2826 August 9, low (2018 low)
Support 2: 1.2774 August 24, 2017 low
Support 3: 1.2700 figure
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.