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GBPUSD TECHS: Approaching Resistance

GBPUSD TECHS
USForeign Exchange Technical AnalysisCEEMEABulletUKMarketsForeign Exchange BulletsNorth America
  • 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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  • 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.