GBP/USD Technical Analysis: In range consolidation, still vulnerable ahead of the Asian session

Price consolidating near daily lows after a sharp decline, not followed by a significant correction.
Short-term technical indicators offer no clear signals, overall outlook remains bearish with price holding under 1.3200
Bearish pressure ahead of the Asian session likely to intensify with a slide under 1.3160.
To the upside, above 1.3180, it could trigger a rally to the strong resistance 1.3200/10; a follow-through above not favored at the moment.

Matías Salord FXStreet

GBP/USD 15-minutes chart

Current Price: 1.3171
Daily High: 1.3274
Trend: Bearish

Resistance
R1: 1.3186 (Indraday high)
R2: 1.3225 (June 18 low)
R3: 1.3250 (June 1 low)

Support
S1: 1.3160 (Uptrend line)
S2: 1.3130 (horizontal level)
S3: 1.3080 (horizontal level)

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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