GBPUSD: Neutral

Jim Langlands FX Charts

GBPUSD: 1.2737

Sterling is lower today but remains within the recent 1.2700/1.2820 (today; 1.2722/1.2813) range while keeping an eye on the Brexit talks. BOE Governor, Mark Carney will also be speaking today and may cause some volatility.

Technically, the outlook remains much the same as before, with the topside likely to see sellers heading into the 1.2800/17 area, which capped it last week, but above which could then head on to 1.2840 and then eventually on towards 1.2900.

Below the session low, the initial support is at 1.2690/1.2700. Below there could see a run back to the recent lows at around 1.2636/40 although the momentum indicators are generally neutral and a choppy session, close to current levels, would not surprise. Further out, below the 100 DMA, further support would arrive at 1.2600 and then at 1.2575 and 1.2514, which was the low seen on the announcement of the election in April. Below that would head towards 1.2465/70 although that remains some way off.

24 Hour: Neutral		Medium Term: Neutral
Resistance		Support
1.2890	(61.8% of 1.3047/1.2636)	1.2722	Session low
1.2840	(50% pivot of 1.3047/1.2636) /Daily Kijun	1.2700	Minor
1.2817	14 June high	1.2689	15 June low
1.2813	Session high	1.2636/38	9 June low/12 June low
1.2775	200 HMA	1.2622	100 DMA

Economic data highlights will include:

BOE Governor, Mark Carney Speech, Brexit talks

Interested in GBPUSD technicals? Check out the key levels

1. R3 1.2808
2. R2 1.2795
3. R1 1.2785
PP 1.2772
1. S1 1.2762
2. S2 1.2749
3. S3 1.2739

Author

Jim Langlands

FX Charts

Jim Langlands began his trading career in the commodities markets in London in 1976, before moving to Australia in 1979 to work as a floor trader on the Sydney Futures Exchange.

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