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30 May 2018

GBP/USD Technical Analysis: Pound faces 1.3300 handle resistance after 100-pip correction to the upside

  • GBP/USD rebounds about a 100 pips from the new 2018 low of 1.3205 reached this Tuesday. 
  • The market is facing immediate resistance at 1.3300 handle.
  • GBP/USD remains in a bear trend despite the oversold condition on the daily chart.

GBP/USD 15-minute chart


Spot rate:                1.3275
Relative change:    0.22%     
High:                        1.3308
Low:                         1.3242

Trend:                      Bearish

Support 1:              1.3250 Asia range
Support 2:              1.3205 figure and 2018 low
Support 3:              1.3150 psychological figure

Resistance 1:        1.3300 handle and near Monday’s low
Resistance 2:        1.3400 handle and near May 24 high
Resistance 3:        1.3450 May 22 high 

May 30, 2018

Saudi Arabia, OPEC and non-OPEC producers to continue cooperation until end of 2018 - Reuters

Citing sources close to Saudi Arabia's decision makers, Reuters reported that Saudi Arabia, other OPEC states, and non-OPEC allies look to stick to a
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May 30, 2018

The BoC kicked the door wide open for a July hike - NBF

"As widely expected, the Bank of Canada left the overnight rate unchanged at 1.25% today," notes the research team at NBF. Key quotes "The statement
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