GBP/USD Technical Analysis: 12-month lows seeing little rebound

Sterling staggering into 12-month lows as the broader market bids up the Greenback to cap off the trading week.
UK GDP, US CPI data still sitting heavy in the barrel, Friday's volatility isn't done yet.
A surge of buying in the US Dollar sees the Cable heading through Friday with a notable bias towards the downside.

Joshua Gibson FXStreet

GBP/USD Chart, 15-Minute

Spot rate:	1.2806
Relative change:	-0.14%
High:	1.2836
Low:	1.2796

Trend:	Bearish

Support 1:	1.2796 (current low)
Support 2:	1.2759 (S2 daily pivot)
Support 3:	1.2588 (June 2017 low)

Resistance 1:	1.2836 (current day high)
Resistance 2:	1.3028 (61.8% Fibo retracement level)
Resistance 3:	1.31752 (previous week high)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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