GBP/USD Technical Analysis: Sterling faces downside pressure from potential hard Brexit
|- Last week's whipping breaks the previous descending channel in both directions.
- Hourly indicators are mixed as technicals struggle to catch up with velocity.
- Last week's House of Lords voting on Brexit raises potential for hard Brexit, adding bearish pressure to the Sterling.
Spot rate: 1.3268
Relative change: 0.05%
High: 1.3279
Low: 1.3261
Trend: Bearish
Support 1: 1.3175 (S2 1-day pivot)
Support 2: 1.3139 (S3 1-day pivot)
Support 3: 1.3211 (current month low)
Resistance 1: 1.3301 (38.2% 1-week Fibonacci retracement level)
Resistance 2: 1.3356 (61.8% 1-week Fibonacci retracement level)
Resistance 3: 1.3403 (R3 1-day pivot)
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