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14 Aug 2018
GBP/USD Technical Analysis: Cycling near 1.2770 ahead of UK earnings, unemployment
- The Sterling is on hold near 1.2770 as GBP traders await the UK's latest earnings report and employment rate numbers.
- After a hard sell-off bidders have managed to keep further declines contained above last week's bottom, a major low for the GBP/USD, but upwards momentum remains limited.
- Brexit headlines will continue to be a sticking point as UK-EU negotiations are set to resume soon.
GBP/USD Chart, 15-Minute
| Spot rate: | 1.2772 |
| Relative change: | Negligible |
| High: | 1.2775 |
| Low: | 1.2748 |
| Trend: | Sideways to bullish |
| Support 1: | 1.2748 (current day low) |
| Support 2: | 1.2722 (previous week low; major technical bottom) |
| Support 3: | 1.2662 (S2 daily pivot) |
| Resistance 1: | 1.2790 (current day high) |
| Resistance 2: | 1.2894 (38.2% Fibo retracement level) |
| Resistance 3: | 1.3172 (two-week high) |