February 13, 2025 06:24 GMT
GBPUSD TECHS: Approaching Resistance
GBPUSD TECHS
- RES 4: 1.2667 High Dec 19
- RES 3: 1.2610 38.2% retracement of the Sep 26 ‘24 - Jan 13 bear leg
- RES 2: 1.2576 High Jan 7
- RES 1: 1.2550 High Feb 5 and a bull trigger
- PRICE: 1.2496 @ 06:24 GMT Feb 13
- SUP 1: 1.2333/2249 Low Feb 11 / 3 and a key short-term support
- SUP 2: 1.2161 Low Jan 17 / 20
- SUP 3: 1.2100 Low Jan 10 and the bear trigger
- SUP 4: 1.2087 0.764 proj of the Sep 26 - Nov 22 - Dec 6 price swing
GBPUSD has recovered from Tuesday’s low and attention is on 1.2550, the Feb 5 high. Clearance of this level would confirm a clear break of the 20- and 50-day EMAs, and strengthen a bullish theme. This would signal scope for a climb towards 1.2610, a Fibonacci retracement. Key short-term support to watch has been defined at 1.2249, the Feb 3 low. Initial support lies at 1.2333, the Feb 11 low.
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