15 Aug 2018
GBP/USD Technical Analysis: Bulls waiting for a good UK CPI reading
- The Sterling continues to play into bearish territory, knocking into an all new low for 2018 and testing just below the 1.27 major handle.
- GBP traders will be tense with the Pound waffling near a critical level with the UK's latest inflation figures due early in the London Wednesday market session.
- A new 14-month low for the GBP/USD sees buyers still sitting on the sidelines.
GBP/USD Chart, 15-Minute
| Spot rate: | 1.2705 |
| Relative change: | -0.10% |
| High: | 1.2724 |
| Low: | 1.2690 |
| Trend: | Bearish |
| Support 1: | 1.2690 (current day low; major technical bottom) |
| Support 2: | 1.2657 (S1 weekly pivot) |
| Support 3: | 1.2600 (major technical level) |
| Resistance 1: | 1.2724 (current day high) |
| Resistance 2: | 1.2826 (current week high) |
| Resistance 3: | 1.2836 (three-week high) |