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GBP/USD Technical Analysis: small rebound from Friday's low as bear trend stays intact

  • GBP/USD tested Friday’s low at 1.3293 as bulls attempt the double bottom but bear trend remains strong. Cautious on longs.
  • GBP/USD bear trend remains intact. Bears need strong bear breakout below 1.3293 swing low established on May 25. 


GBP/USD 15-minute chart

https://editorial.azureedge.net/miscelaneous/2018-05-28 18_40_21-GBP_USD (89)-636631228829563810.png

Spot rate:                   1.3310
Relative change:       0.00%     
High:                           1.3342
Low:                            1.3296

Trend:                         Bearish

 

Support 1:                 1.3296 Monday´s low
Support 2:                 1.3293 swing low established last Friday (May 25) 
Support 3:                 1.3220 swing low, November 28, 2017

Resistance 1:           1.3313 New York session resistance
Resistance 2:           1.3330 swing high, last Friday (May 25) 
Resistance 3:           1.3350 psychological figure

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