GBP/USD Technical Analysis: holding into bullish pressure despite risk flows

The Sterling is looking for higher gains as Brexit hopes push traders into the bullish camp.
With trade wars beginning to ramp-up, buying pressure is going to face severe headwinds.
The economic calendar remains thin until Wednesday's inflation reading for the UK, leaving buyers to look up towards the 200-day EMA slung high above current prices.

Joshua Gibson FXStreet

GBP/USD Chart, 15-Minute

Spot rate	1.3153
Relative change	Negligible
High	1.3163
Low	1.3140

Trend	Sideways to bullish

Support 1	1.3066 (previous day low)
Support 2	1.3040 (200-hour EMA)
Support 3	1.3029 (50-day EMA)

Resistance 1	1.3165 (previuos day high)
Resistance 2	1.3213 (July 26th swing high)
Resistance 3	1.3296 (200-day EMA)

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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