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Bearish Pressure Resumes

GBPUSD TECHS
  • RES 4: 1.3749 High Jan 13 and a key resistance
  • RES 3: 1.3662 High Jan 20 and the 200-dma
  • RES 2: 1.3643/44 High Feb 18 / 10
  • RES 1: 1.3439/87 High Feb 25 / Low Feb 15
  • PRICE: 1.3214 @ 17:12 GMT Mar 4
  • SUP 1: 1.3203 Low Mar 4
  • SUP 2: 1.3174 Low Dec 20
  • SUP 3: 1.3163 Low Dec 8 and a key support
  • SUP 4: 1.3155 2.0% 10-dma envelope

GBPUSD returned lower Friday, slipping to new YTD lows. A bearish theme continues to dominate following the sell-off on Jan 24 and attention turns to the Dec 20 1.3174 low. Recent weakness resulted in a breach of support at 1.3358, the Jan 27 low. Overarching bearish conditions have opened 1.3163, Dec 8 low and a key support. Resistance is seen at 1.3487.

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