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Approaching key Support

GBPUSD TECHS
  • RES 4: 1.3983/90 High Jul 30 / 61.8% of the Jun 1 - Jul 20 sell-off
  • RES 3: 1.3958 High Aug 4
  • RES 2: 1.3913 High Sep 14 and the intraday bull trigger
  • RES 1: 1.3785 20-day EMA
  • PRICE: 1.3674 @ 06:22 BST Sep 21
  • SUP 1: 1.3631/02 Triangle base drawn from Jul 20 low / Low Aug 20
  • SUP 2: 1.3572 Low Jul 20 and the bear trigger
  • SUP 3: 1.3520 Low Jan 18
  • SUP 4: 1.3462 50.0% retracement of the Sep '20 - Jun rally

GBPUSD remains under pressure following Monday's bearish session. The pair traded below an important S/T support at 1.3727, Sep 8 low, signalling scope for an extension lower. This has also resulted in a break of 1.3680, Aug 27 low and signals scope for a deeper retracement towards the important 1.3602/3572 support zone. Note that there is a triangle base at 1.3631 that also represents an important support. Resistance is at 1.3785.

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