GBPUSD Chart Technical Outlook dips to be bought within the rectangle range
GBP/USD has consolidated within the 1.2711 – 1.2613 range for the last 7 trading days. We are seeing small losses overnight. The current daily average true range (ATR) is 61.
Bespoke support is located at 1.2633. We have the 78.6% pullback level located at 1.2632. A move to this zone from the daily open is 51 pips, close to the ATR.
Resistance: 1.2686 (open), 1.2688 (swing high), 1.2711 (July peak)
Support: 1.2633 (bespoke), 1.2615 (swing low), 1.2596 (projected butterfly)
