- GBP/USD main bear trend has been on hold since mid-August.
- GBP/USD is currently pulling back after grinding higher all week. GBP/USD is evolving in a rising wedge (green lines) suggesting that any further advances might be limited for the time being. The RSI, MACD and Stochastics are showing some signs of exhaustion as well.
- Targets for a pullback down can be located near 1.3050 (August 30 swing high, key level) and 1.2957 (July 19 swing low).
Spot rate: 1.3095
Relative change: -0.09%
Main trend: Bearish
Short-term trend: Bullish above 1.2800
Resistance 1: 1.3082-1.3100 supply/demand level and figure
Resistance 2: 1.3200 figure (key support/resistance)
Resistance 3: 1.3300 figure
Support 1: 1.3050 August 30 swing high, key level
Support 2: 1.3000 figure
Support 3: 1.2957 July 19 swing low
Support 4: 1.2937 August 22 swing high
Support 5: 1.2900 figure
Support 6: 1.2868 August 22 low
Support 7: 1.2845, August 29 low
Support 8: 1.2800 August 24 swing low
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 securities. 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 Forex 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.