GBP/USD Technical Analysis: Cable bears keep GBP/USD under pressure below 1.3400 level

• After an attempt to break 1.3442, the bears drove GBP/USD almost 100 pips down in early Europe.
• GBP/USD has broken the ascending trendline from May 29, suggesting lower prices in the coming sessions.
• GBP/USD is now trading below its 50 and 100-period simple moving averages on the hourly and 15-minute chart suggesting a bearish momentum.

GBP/USD 15-minute chart

Spot rate:               1.3378
Relative change:    -0.22%     
High:                      1.3442
Low:                       1.3344

Trend:                    Bearish

Resistance 1:        1.3400 figure
Resistance 2:        1.3442 current Monday’s high  
Resistance 3:        1.3590 daily 200-period simple moving average
        
Support 1:             1.3344, daily 10-period SMA
Support 2:             1.3300 figure
Support 3:             1.3254 June 1 swing low

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