GBP/USD Technical Analysis
Pound/dollar has fallen over the 50 Simple Moving Average on the four-hour chart and momentum has turned negative – both bearish signs. Moreover, the recent swing high fell short of the previous one – a lower high – which is another downside driver.
Support awaits at the daily low of 1.3048, followed by the stubborn 1.3005 which is the weekly low. Further down, 1.2950 and 1.2905 are eyed.
Immediate resistance is at the daily high of 1.3075, followed by the weekly high of 1.3135. Further above, 1.3183 is August's peak.