GBP/USD Technical Analysis: last week's decline leaves Sterling's indicators scrambling to catch up

Sterling kicks upwards for Tuesday despite market sentiment retreating on US tariff ramp-up.
Thin schedule leaves the GBP/USD pair exposed to broader market sentiment, mixed indicators leave the technical situation a guessing game.
The week's upward twist to the price action could evaporate quickly.

Joshua Gibson FXStreet

GBP/USD Chart, 1-Hour

Spot rate: 1.3263
Relative change: 0.14%
High: 1.3272
Low: 1.3243

Trend: Bearish

Support 1: 1.3243 (current day low)
Support 2: 1.3211 (1-week low)
Support 3: 1.3177 (S1 1-week pivot)

Resistance 1: 1.3301 (1-week 38.2% Fibo level; major technical handle
Resistance 2: 1.3356 (1-week 61.8% Fibo level)
Resistance 3: 1.3446 )1-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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