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11 Jul 2018
GBP/USD Technical Analysis: Brexit and trade concerns see the pair cycling at a midpoint
- The Sterling is grinding sideways, marking in an inside day from Tuesday, presenting a straddle opportunity for higher timeframe traders.
- Brexit headlines from resigning Brexit cabinet ministers has left the GBP in a weakened state, and trade concerns from late Tuesday are having little effect in Wednesday trading.
GBP/USD Chart,15-Minute
| Spot rate: | 1.3258 |
| Relative change: | -0.09% |
| High: | 1.3281 |
| Low: | 1.3248 |
| Trend: | Sideways |
| Support 1: | 1.3222 (previous day low) |
| Support 2: | 1.3168 (61.8% Fibo retracement level) |
| Support 3: | 1.3094 (previous week low) |
| Resistance 1: | 1.3300 (major technical barrier) |
| Resistance 2: | 1.3361 (current week high) |
| Resistance 3: | 1.3446 (one month high) |