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20-Day EMA Marks Support

GBPUSD TECHS
  • RES 4: 1.3958 High Aug 4, 2021
  • RES 3: 1.3913 High Sep 14, 2021
  • RES 2: 1.3835/99 High Oct 20 and key resistance / 2.0% 10-dma env
  • RES 1: 1.3735/49 200-dma / High Jan 13
  • PRICE: 1.3612@ 20:07 GMT Jan 20
  • SUP 1: 1.3573 Low Jan 18
  • SUP 2: 1.3553/3500 20-day EMA / 50-day EMA
  • SUP 3: 1.3409 Low Dec 29
  • SUP 4: 1.3343 Low Dec 23

GBPUSD remains nearer its recent lows. Trend conditions are bullish and the recent pullback is considered a correction. MA conditions are still in a bull mode and last week’s breach of 1.3676, 76.4% of the Oct - Dec downleg strengthened a positive theme. A bullish price sequence of higher highs and higher lows remains intact. The 200-dma at 1.3735 has recently provided resistance. A break would open 1.3835, Oct 20 high. Support is at 1.3553.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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