GBP/USD Technical Analysis: Upside calling

The GBP/USD 15-minute chart shows a bull flag breakout, a bullish continuation pattern, which indicates the recovery from the previous day's low of 1.2957 is set to gather pace.
The pair could re-test June 28 low of 1.3050.

Omkar Godbole FXStreet Contributor

15-minute chart

Spot Rate: 1.3030

Daily High: 1.3030

Daily Low: 1.2995

Trend: Intraday bullish

Resistance

R1: 1.3050 (June 28 low)

R2: 1.31 (psychological hurdle)

R3: 1.3163 (10-day moving average)

Support

S1: 1.30 (Psychological support + 20-hour MA)

S2: 1.2970 (hourly Bollinger Bands support)

S3: 1.2957 (previous day's low)

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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