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22 Jun 2018
GBP/USD Technical Analysis: Undaunted GBP buyers heading higher ahead of US PMIs
- The Sterling is extending its climb against the Greenback as falling Treasury yields knock the USD back.
- Thin session for Friday puts extra focus on the upcoming US Markit PMIs to cap off the week.
- Hourly indicators are knocking into overbought territory, a turnaround from here could see a sharp snap lower.
GBP/USD Chart, 1-Hour
| Spot rate: | 1.3268 |
| Relative change: | 0.28% |
| High: | 1.3282 |
| Low: | 1.3229 |
| Trend: | Bullish |
| Support 1: | 1.3229 (current day low) |
| Support 2: | 1.3205 (PP daily pivot) |
| Support 3: | 1.3102 (current week low; key level) |
| Resistance 1: | 1.3298 (June 15th swing high; key level) |
| Resistance 2: | 1.3375 (R2 daily pivot) |
| Resistance 3: | 1.3446 (two-week high) |