Free Trial
STIR FUTURES

Calm after yesterday's storm

OIL

API Reports 5.6mbbl Build in Crude

SILVER TECHS

Support Appears Exposed

USD

Mostly in the green in G10s

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Bearish Despite The Oversold Condition

GBPUSD TECHS
  • RES 4: 1.3090 High Apr 21
  • RES 3: 1.2974 Low Apr 13 and a recent breakout level
  • RES 2: 1.2772/2865 High Apr 26 / 20-day EMA
  • RES 1: 1.2614 High Apr 29
  • PRICE: 1.2546 @ 06:21 BST May 2
  • SUP 1: 1.2412 Low Apr 28 and the bear trigger
  • SUP 2: 1.2375 2.382 proj of the Mar 23 - Apr 13 - 14 price swing
  • SUP 3: 1.2252 Low Jun 29 2020
  • SUP 4: 1.2162 Low May 22 2020

GBPUSD gains are considered corrective and the pair remains soft following last week’s acceleration of the downtrend. Price has cleared 1.2974, Apr 13 low and 1.2676, last printed in September 2020. The trend remains in oversold territory. However a reversal pattern is still required to signal a short-term base and possible reversal. The focus is 1.2423 next, a Fibonacci projection. Friday’s high of 1.2614 marks initial resistance.

140 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: 1.3090 High Apr 21
  • RES 3: 1.2974 Low Apr 13 and a recent breakout level
  • RES 2: 1.2772/2865 High Apr 26 / 20-day EMA
  • RES 1: 1.2614 High Apr 29
  • PRICE: 1.2546 @ 06:21 BST May 2
  • SUP 1: 1.2412 Low Apr 28 and the bear trigger
  • SUP 2: 1.2375 2.382 proj of the Mar 23 - Apr 13 - 14 price swing
  • SUP 3: 1.2252 Low Jun 29 2020
  • SUP 4: 1.2162 Low May 22 2020

GBPUSD gains are considered corrective and the pair remains soft following last week’s acceleration of the downtrend. Price has cleared 1.2974, Apr 13 low and 1.2676, last printed in September 2020. The trend remains in oversold territory. However a reversal pattern is still required to signal a short-term base and possible reversal. The focus is 1.2423 next, a Fibonacci projection. Friday’s high of 1.2614 marks initial resistance.