Free Trial

Bouncing Well

GBPUSD TECHS
  • RES 4: 1.3712 Low Mar 1, 2018
  • RES 3: 1.3677 76.4% retracement of the 2017 - 2020 downtrend
  • RES 2: 1.3624 High Dec 17 and the bull trigger
  • RES 1: 1.3571 High Dec 23
  • PRICE: 1.3507 @ 16:07 GMT Dec 23
  • SUP 1: 1.3188 Low Dec 21
  • SUP 2: 1.3135 Low Dec 11 and key support
  • SUP 3: 1.3106 Low Nov 12
  • SUP 4: 1.3092 Trendline support drawn off the Sep 23 low

Another day, another slew of Brexit headlines, this time favourable, helping GBPUSD extend the recent bounce. This retains the recent uptrend to turn focus to last week's 1.3624 high. 1.3135, the Dec 11 low remains key support. A break would undermine the recent uptrend and signal scope for a deeper pullback.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.