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Bearish Extension

GBPUSD TECHS
  • RES 4: 1.4133 High Jun 16
  • RES 3: 1.4074 Low Jun 10
  • RES 2: 1.3981/4001 50-day EMA / High Jun 23
  • RES 1: 1.3886 High Jun 29
  • PRICE: 1.3771 @ 06:01 BST Jul 2
  • SUP 1: 1.3752 Intraday low
  • SUP 2: 1.3717 Low Apr 16
  • SUP 3: 1.3669 Low Apr 12 and a key support
  • SUP 4: 1.3567 Low Apr 2

GBPUSD traded lower again yesterday and has breached 1.3787, Jun 21 low and touched new multi-month lows. The move lower opens 1.3717, Apr 16 low. Attention is also on key short-term support and a bear trigger at 1.3669, Apr 12 low. Clearance of 1.3669 would mark an important bearish breakout. On the upside, initial firm resistance is seen at 1.4001, Jun 23 high. First resistance is at 1.3886, Jun 29 high.

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