GBP/USD Technical Analysis: Sterling sticking to 1.31 ahead of BoE rate hike
|- The Sterling is trading into familiar territory for the week ahead of the Bank of England's highly-expected rate hike.
- BoE rate hike might not go off with slumping economic data for the UK, which could see the Sterling heading for new 2018 lows.
- The GBP/USD saw July end the month near where it started as momentum bleeds out of the major pair on a still-muddy Brexit.
| Spot rate: | 1.3100 |
| Relative change: | -0.10% |
| High: | 1.3128 |
| Low: | 1.3098 |
| Trend: | Flat to bearish |
| Support 1: | 1.3088 (current week low) |
| Support 2: | 1.3054 (61.8% Fibo retracement level) |
| Support 3: | 1.2956 (two-week low; technical bottom) |
| Resistance 1: | 1.3128 (current day high) |
| Resistance 2: | 1.3172 (current week high) |
| Resistance 3: | 1.3212 (previous week high) |
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.