GBP/USD technical analysis: Hourly chart trends lower but finds support ahead of 1.28

• GBP/USD finds intraday support at 1.2820 after falling earlier in the session.
• The low of 1.2769 is still the support level in focus.

GBP/USD Hourly Chart

GBP/USD is trading -0.13% lower today but this is mostly due to some strength in the greenback.

Today there was some earnings data which came in mixed. Average earnings missed on expectations while the employment change was positive.

The hourly chart broke the trendline to the upside and the price did come back to test the break but found support at 1.2820.

The key support level still remains at 1.2769 which is the consolidation low on the daily chart.

On the topside, if this trend is to continue higher then 1.3013 is the resistance level to beat.

Right now it seems a break lower is more likely but this will depend on the dollar strength we see in the afternoon. 

It seems to be a theme that when the US come to market dollars get bought. Also later in the session, the key event of the day is the Trump speech at 17:00 London time.

Additional Levels