GBP/USD Technical Analysis: Sterling stuck to 1.32 as bears fear Brexit

The US Dollar is seeing a soft walkback across the G10 broader market, but the Sterling remains subdued as Brexit concerns keep the Pound on the downside.
Yearly lows for the pair remain close by, and bearish pressure remains taut.
The last swing high broke a long pattern of lower highs, and a bullish turnaround from here could kick off a new bull run.on higher timeframes.

Joshua Gibson FXStreet

GBP/USD Chart, 15-Minute

Spot rate:	1.3205
Relative change:	Negligible
High:	1.3209
Low:	1.3188

Trend:	Bearish

Support 1:	1.3168 (61.8% Fibo retracement level)
Support 2:	1.3094 (previous week low)
Support 3:	1.3049 (2018 low)

Resistance 1:	1.3285 (previous day high)
Resistance 2:	1.3317 (R2 daily pivot)
Resistance 3:	1.3361 (current 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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