18 Sep 2018
GBP/USD Technical Analysis: holding into bullish pressure despite risk flows
- The Sterling is looking for higher gains as Brexit hopes push traders into the bullish camp.
- With trade wars beginning to ramp-up, buying pressure is going to face severe headwinds.
- The economic calendar remains thin until Wednesday's inflation reading for the UK, leaving buyers to look up towards the 200-day EMA slung high above current prices.
GBP/USD Chart, 15-Minute
| Spot rate | 1.3153 |
| Relative change | Negligible |
| High | 1.3163 |
| Low | 1.3140 |
| Trend | Sideways to bullish |
| Support 1 | 1.3066 (previous day low) |
| Support 2 | 1.3040 (200-hour EMA) |
| Support 3 | 1.3029 (50-day EMA) |
| Resistance 1 | 1.3165 (previuos day high) |
| Resistance 2 | 1.3213 (July 26th swing high) |
| Resistance 3 | 1.3296 (200-day EMA) |