GBP/USD Technical Analysis: Sterling regains 1.33, further upside likely to be challenged


  • Sterling lifting on global risk recovery, but technicals are leaning bearish.
  • mid-week trendline could lead to a break and further downside.
  • GBP/USD has failed to initiate a technical correction from April decline.

GBP/USD chart, 15-Minute

Spot rate: 1.3300
Relative change: 0.14%

Trend: Bearish

Support 1: 1.3283 (38.2% 1-Day Fibonacci)
Support 2:  1.3264 (Kijun-sen)
Support 3: 1.3204 (May 29th low point)

Resistance 1: 1.3346 (R2 1-Day pivot)
Resistance 2: 1.3370 (38.2% 1-Week Fibonacci)
Resistance 3: 1.3420 (May 24th swing high)



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