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25 Jun 2018
GBP/USD Technical Analysis: Cable facing some resistance near 1.3300 level
- GBP/USD is facing some resistance as it got near the 1.3300 level. The failure can lead to a rotation back towards the 1.3260 level, the 200-period simple moving average on 15-minute chart.
- However, a breakout of the 1.3300 level can open the gates to the 1.3350 supply/demand level.
GBP/USD 15-minute chart
Spot rate: 1.3279
Relative change: 0.10%
High: 1.3291
Low: 1.3221
Trend: Bullish
Resistance 1: 1.3300 key support
Resistance 2: 1.3350 supply/demand level
Resistance 3: 1.3400 figure
Support 1: 1.3260, 200-period SMA (15m)
Support 2: 1.3200-1.3221 area, figure and current Monday’s low
Support 3: 1.3146, current 2018 low