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25 Jun 2018
GBP/USD Technical Analysis: last week's bounce from the bottom sees resistance
- Sterling trading flat after recovering from last week's technical bottom.
- Hourly indicators are mixed and leaning out of their overbought positions.
- It's a quiet Monday for the Pound with little data to come; market sentiment to play driver for broader markets.
GBP/USD Chart, 15-Minute
| Spot rate: | 1.3263 |
| Relative change: | 0.05% |
| High: | 1.3271 |
| Low: | 1.3250 |
| Trend: | Flat |
| Support 1: | 1.3233 (38.2% one-week Fibo level) |
| Support 2: | 1.3150 (June 19th swing low) |
| Support 3: | 1.3102 (technical bottom) |
| Resistance 1: | 1.3314 (previous week high) |
| Resistance 2: | 1.3380 (R3 daily pivot point) |
| Resistance 3: | 1.3472 (one month high) |