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GBP/USD Technical Analysis: Cable bulls challenging the 1.3050 level

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发表于 2018-10-22 13:27:57 | 显示全部楼层 |阅读模式
GBP/USD is trading in a bear leg below the 200-period simple moving average.
GBP/USD is finding some support above the 1.3000 figure. The RSI, MACD and Stochastic remain bearish but until the market stays above 1.3000, there is scope for a potential rebound to 1.3100 figure.
A bearish breakout below 1.3000 would open the gates to 1.2957 (1.2957 July 19 swing low).  
GBP/USD 4-hour chart


Spot rate:                         1.3054
Relative change:              0.27%     
High:                                1.3061
Low:                                 1.3011

Main trend:                      Bearish

Short-term:                      Bullish

Resistance 1:                  1.3050 August 30 swing high, key level
Resistance 2:                  1.3100 figure
Resistance 3:                  1.3140 October 16 low


Support 1:                      1.3028 October 8 low
Support 2:                      1.3000 figure
Support 3:                      1.2957 July 19 swing low  
Support 4:                      1.2900 figure

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