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Key resistance zone: 1.3178-1.3210

Key Support Zone:1.3015-1.2997

Intraday Trend: sideways above 1.3068 while bearish as long as it stays below 1.3068




GBPUSD is trading below the 21-day EMA, which indicates a bearish trend. As long as the pair stays below the 21-day EMA, it will continue to move down. The pair is trading in a sideways trend in the hourly timeframe, but the price has been moving down since yesterday. The support level of 1.3068 is being tested by sellers and today the price may test this level again. If it breaks below this level, then we will see a further decline to the 1.3015-1.2997 support zone. On the upside, there are only two major resistance levels 1.3178 and 1.3210 respectively where the seller can reappear. Happy Pips!

Disclaimer: This content is strictly for informational purposes only and does not constitute investment advice. Trading in any financial market involves risk.