GBP/USD Technical Analysis: Bulls trying to close the gap into 1.2950

  • The Sterling remains weakened by bearish Brexit headlines over the weekend, but bulls are determined to close the week's opening gap.
  • A push towards 1.30 will see the pair shake out the current bearish pressure and get a bullish correction back on track.
  • Economic data on the UK side is thin for the early week, and traders will have to chew on growing fears of a messy Brexit.
GBP/USD Chart, 15-Minute
Spot rate: 1.2930
Relative change:0.14%
High:1.2933
Low:1.2911
  
Trend:Bullish
  
Support 1:1.2911 (current day low)
Support 2:1.2854 (previous week low)
Support 3:1.2661 (major technical bottom)
  
Resistance 1:1.2960 (previous week close)
Resistance 2:1.2992 (61.8% one-week Fibo retracement level)
Resistance 3:
1.3043 (four-week high)


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1.3043 (four-week high)




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