Free Trial
ENERGY

IEA Report Highlights:

BONDS

Further tightening in the BTP/Bund spread

FOREX

FX OPTION EXPIRY

OIL PRODUCTS

New York Harbor Gasoline Tightness Extends

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Corrective Cycle Still In Play

GBPUSD TECHS
  • RES 4: 1.2667 High May 27 and a reversal trigger
  • RES 3: 1.2573 50-day EMA
  • RES 2: 1.2518 High Jun 10
  • RES 1: 1.2406 High Jun 16
  • PRICE: 1.2251 @ 16:07 BST Jun 20
  • SUP 1: 1.2042 Low Jun 16
  • SUP 2: 1.1934 Low Jun 14 and High Mar 20 2020
  • SUP 3: 1.1795 0.764 proj of the Mar 23 - May 13 - 27 price swing
  • SUP 4: 1.1777 Low Mar 26 2020

GBPUSD recovered from last week’s low of 1.1934 (Jun 14). Gains are considered corrective and the primary trend direction remains down. A resumption of weakness would refocus attention on 1.1934 that also marks the short-term bear trigger. A break would confirm a resumption of the downtrend. Initial firm resistance is seen at 1.2406, Jun 16 high and just above the 20-day EMA.

131 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: 1.2667 High May 27 and a reversal trigger
  • RES 3: 1.2573 50-day EMA
  • RES 2: 1.2518 High Jun 10
  • RES 1: 1.2406 High Jun 16
  • PRICE: 1.2251 @ 16:07 BST Jun 20
  • SUP 1: 1.2042 Low Jun 16
  • SUP 2: 1.1934 Low Jun 14 and High Mar 20 2020
  • SUP 3: 1.1795 0.764 proj of the Mar 23 - May 13 - 27 price swing
  • SUP 4: 1.1777 Low Mar 26 2020

GBPUSD recovered from last week’s low of 1.1934 (Jun 14). Gains are considered corrective and the primary trend direction remains down. A resumption of weakness would refocus attention on 1.1934 that also marks the short-term bear trigger. A break would confirm a resumption of the downtrend. Initial firm resistance is seen at 1.2406, Jun 16 high and just above the 20-day EMA.