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GBP/USD Technical Analysis: 12-month lows seeing little rebound

  • Sterling staggering into 12-month lows as the broader market bids up the Greenback to cap off the trading week.
  • UK GDP, US CPI data still sitting heavy in the barrel, Friday's volatility isn't done yet.
  • A surge of buying in the US Dollar sees the Cable heading through Friday with a notable bias towards the downside.

GBP/USD Chart, 15-Minute

Spot rate:  1.2806
Relative change:  -0.14%
High:  1.2836
Low:  1.2796
   
Trend:  Bearish
   
Support 1:  1.2796 (current low)
Support 2:  1.2759 (S2 daily pivot)
Support 3:  1.2588 (June 2017 low)
   
Resistance 1:  1.2836 (current day high)
Resistance 2:  1.3028 (61.8% Fibo retracement level)
Resistance 3:  1.31752 (previous week high)

 

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