12 Jul 2018
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.
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) |