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5 Jun 2018
GBP/USD Technical Analysis: Brexit questions weighing on bullish technical correction
- Hourly GBP/USD charts testing lower bounds of recent bullish correction.
- MACD bearish divergence warns of potential weak action ahead.
- Lack of clarity in ongoing Brexit issues (Ireland border, EU fiscal union) increasingly edging down on the Sterling.
GBP/USD Chart, 1-Hour
Spot rate: 1.3302
Relative change: -0.07%
High: 1.3320
Low: 1.3302
Trend: Bullish
Support 1: 1.3253 (Monday's low)
Support 2: 1.3204 (May swing low)
Support 3: 1.3147 (S2 1-Week pivot)
Resistance 1: 1.3326 (50-hour EMA)
Resistance 2: 1.3398 (Monday high)
Resistance 3: 1.3464 (161.8% Fibonacci 1-Day level)