3 Sep 2018
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) |