GBP/USD Technical Analysis: Upside calling, focus on today's close
|- For GBP/USD, the path of least resistance is on the higher side, the higher highs and higher lows, ascending 50-hour, 100-hour and 200-hour MAs indicate.
- The currency pair closed well above 1.3087 (Tuesday's doji candle high) yesterday, adding credence to the bullish setup on the hourly chart.
- A close today above the trendline connecting the July 6 high and July 9 high would accentuate the bull case and could yield a sustained move above 1.3204 (May 29 high).
Hourly chart
Daily chart
Spot Rate: 1.3117
Daily High: 1.3122
Daily Low: 1.3098
Trend: Bullish
R1: 1.3118 (trendline hurdle)
R2: 1.3178 (100-day moving average)
R3: 1.3204 (May 29 low)
Support
S1: 1.3064 (5-day moving average)
S2: 1.3046 (daily pivot S1)
S3: 1.30 (psychological support)
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.