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Approaching The 50-Day EMA

GBPUSD TECHS
  • RES 4: 1.2406 High Jun 16 and a key resistance
  • RES 3: 1.2332 High Jun 27
  • RES 2: 1.2210 50-day EMA
  • RES 1: 1.2191 High Jul 28
  • PRICE: 1.2126 @ 15:53 BST Jul 28
  • SUP 1: 1.2038 20-day EMA
  • SUP 2: 1.1890/1760 Low Jul 21 / Low Jul 14 and the bear trigger
  • SUP 3: 1.1673 1.00 proj of the May 27 - Jun 14 - 16 price swing
  • SUP 4: 1.1640 Low Mar 25 2020

GBPUSD traded higher mid-week, extending the recent recovery from 1.1760, the Jul 14 low. Attention is on a firm resistance area at the 50-day EMA - the average intersects at 1.2210. A clear breach would strengthen bullish conditions, signalling scope for a climb towards 1.2332, the Jun 27 high. On the downside, initial firm support to watch lies at 1.1890, the Jul 21 low. A break would signal a resumption of bearish activity.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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