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Solid Downtick

GBPUSD TECHS
  • RES 4: 1.3355 High Mar 4
  • RES 3: 1.3298 High Mar 23 and a pivot resistance
  • RES 2: 1.3189 50-day EMA
  • RES 1: 1.3090/3147 High Apr 21 / High Apr 14
  • PRICE: 1.2849 @ 16:45 BST Apr 22
  • SUP 1: 1.2839 Low Apr 22
  • SUP 2: 1.2830 50.0% retracement of the Mar ‘20 - Jun ‘21 uptrend
  • SUP 3: 1.2764 2.0% 10-dma envelope
  • SUP 4: 1.2676 Low Sep 23 2020 and a key support

GBPUSD accelerated the down-move Friday, breaching major support and the bear trigger at 1.2974, Apr 13 low. The break of this level confirms a resumption of bearish activity and an extension of the primary downtrend. 1.2933, the Nov 5 2020 low, also gave way, opening losses toward 1.2830 and below. Moving average studies also point south, highlighting current market sentiment. Key short-term resistance is at 1.3147, the Apr 14 high. Initial resistance is at 1.3090, the Apr 21 high.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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