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Broad Consolidation

GBPUSD TECHS
  • RES 4: 1.4437 2.0% 10-dma envelope
  • RES 3: 1.4377 High Apr 17, 2018 and a key resistance
  • RES 2: 1.4315 High Apr 18, 2018
  • RES 1: 1.4203/48 High Jun 3 / High Jun 1 and the bull trigger
  • PRICE: 1.4114 @ 16:22 BST Jun 14
  • SUP 1: 1.4071 Low Jun 14
  • SUP 2: 1.4037/06 50-day EMA / Low May 13 and key support
  • SUP 3: 1.3972 Low May 10
  • SUP 4: 1.3858 Low May 6

GBPUSD conditions are unchanged and the pair is still trading in a range below key resistance at 1.4248, Jun 1 high. Trend conditions remain bullish. The probe on Jun 1 of former resistance at 1.4237, Feb 24 high reinforces a bullish theme however a clear break is required to confirm a resumption of the trend. This would open 1.4315, April 18 2018 high. Key support is seen at the 50-day EMA, at 1.4037 and 1.4006, May 13 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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