6 Jul 2018
GBP/USD Technical Analysis: Trade anxiety not helping Brexit-ridden Sterling
- The Sterling is hesitating in a weak bullish correction, with Brexit concerns overpowering the GBP heading into Friday.
- US tariffs on China have come into effect, and market sentiment has drawn taut as traders await China's response.
- It's also US NFP Friday, which promises to add volatility to trade war fears.
GBP/USD Chart, 15-Minutes
| Spot rate: | 1.3218 |
| Relative change: | -0.05% |
| High: | 1.3226 |
| Low: | 1.3202 |
| Trend: | Bullish to flat |
| Support 1: | 1.3205 (38.2% Fibo retracement level) |
| Support 2: | 1.3162 (61.8% Fibo retracement level) |
| Support 3: | 1.3094 (current week low) |
| Resistance 1: | 1.3273 (current week high) |
| Resistance 2: | 1.3306 (R2 daily pivot) |
| Resistance 3: | 1.3471 (June high) |