Back

GBP/USD Technical Analysis: Tight bear channel find some support above 1.2800 figure

  • GBP/USD is down for the fourth day in a row as sellers are keeping the main bear trend intact. 
  • GBP/USD has found some support just above the 1.2800 support and a break below the level is needed to confirm the continuation of the bear leg. 
  • Meanwhile, repeated failure to break below 1.2800 can lead to a pullback up towards 1.2900 figure as bulls will try to break above the tight bear channel (dotted lines)

GBP/USD 4-hour chart


Spot rate:               1.2845
Relative change:     -0.20%     
High:                      1.2877
Low:                       1.2814

Main trend:             Bearish 

Resistance 1:        1.2868 August 22 low 
Resistance 2:        1.2868 August 22 low 
Resistance 3:        1.2900 figure
Resistance 4:        1.2937 August 22 swing high
Resistance 5:        1.2957 July 19 swing low
Resistance 6:        1.3000 figure


Support 1:             1.2845, August 29 low
Support 2:             1.2800 swing low
Support 3:             1.2700-1.2723 zone, figure and August 10 low

BoE's Carney: Would see `positive GBP momentum' if a deal is reached on Brexit

Mark Carney, Governor of the Bank of England, is now delivering his remarks before the Parliament's Treasury Select Committee with key quotes found be
了解更多 Previous

Canada Markit Manufacturing PMI registered at 56.8, below expectations (57.1) in August

Canada Markit Manufacturing PMI registered at 56.8, below expectations (57.1) in August
了解更多 Next