17 Sep 2018
GBP/USD Technical Analysis: Bears waiting near 1.31
- The Sterling-Dollar pairing is looking for more bullish momentum despite the US Dollar's broad-market bull moves recently.
- The GBP/USD remains trapped under July's peaks and the 200-day EMA, but bulls have managed to push the pair into a firm bullish correction, breaking above the 50-day EMA.
- The 21, 50, and 200 day EMAs remain locked in a bearish setup, and short-sellers will likely be waiting just above.
GBP/USD Chart, 1-Hour
| Spot rate | 1.3080 |
| Relative change | 0.10% |
| High | 1.3084 |
| Low | 1.3066 |
| Trend | Bullish |
| Support 1 | 1.3013 (200-hour EMA) |
| Support 2 | 1.2922 (61.8% Fibo retracement level) |
| Support 3 | 1.2785 (two-week low) |
| Resistance 1 | 1.3143 (previous week high) |
| Resistance 2 | 1.3213 (August 26th swing high) |
| Resistance 3 | 1.3296 (200-day EMA) |