Free Trial

Bull Trigger In Range

  • RES 4: 1.3357 High Sep 3
  • RES 3: 1.3333 1.0% 10-dma envelope
  • RES 2: 1.3319 High Sep 4
  • RES 1: 1.3312 High Nov 11 and the bull trigger
  • PRICE: 1.3297 @ 16:22 GMT Nov 18
  • SUP 1: 1.3162 Low Nov 16
  • SUP 2: 1.3106 Low Nov 12 and key near-term support
  • SUP 3: 1.3093 Low Nov 6
  • SUP 4: 1.3022 50-day EMA

GBPUSD maintains a bullish tone and traded firmer Wednesday. The move higher since Nov 2 saw the pair breach a former key resistance at 1.3177, Oct 21 and Nov 6 high. This extends the recovery that started Sep 23 and maintains the current bullish price sequence of higher highs and higher lows. The bull trigger is at 1.3312 where a break would open 1.3357, Sep 3 high. On the downside, firm short-term support lies at 1.3106, Nov 12 low.

MNI London Bureau | +44 203-865-3809 |

To read the full story



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.