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Bearish Focus

GBPUSD TECHS
  • RES 4: 1.4133 High Jun 16
  • RES 3: 1.4074 Low Jun 10
  • RES 2: 1.3950/1.4001 50-day EMA / High Jun 23 and key resistance
  • RES 1: 1.3898High Jul 6
  • PRICE: 1.3779 @ 06:12 BST Jul 9
  • SUP 1: 1.3733 Low Jul 2 and the intraday bear trigger
  • 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

The GBPUSD outlook remains bearish. Recent gains stalled at 1.3898, the Jul 6 high. The pair has also recently breached 1.3787, Jun 21 low to confirm a resumption of the current bearish cycle. This signals scope for 1.3717, Apr 16 low. Attention is also on the key short-term support and bear trigger at 1.3669, Apr 12 low. Firm resistance is seen at 1.4001, Jun 23 high. First resistance though is at 1.3898.

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