Free Trial

Bullish Extension

GBPUSD TECHS
  • RES 4: 1.3193 2.236 proj of the Apr 22 - May 3 - 9 price swing
  • RES 3: 1.3142 High Jul 14 ‘23 and a key resistance
  • RES 2: 1.3092 Bull channel top drawn from the Oct 4 ‘23 low
  • RES 1: 1.3042 Intraday high
  • PRICE: 1.3040 @ 10:46 BST Jul 17
  • SUP 1: 1.2938/02 Low Jul 12 / 16
  • SUP 2: 1.2810/2735 20- and 50-day EMA
  • SUP 3: 1.2613 Low Jun 27
  • SUP 4: 1.2584 Low May 15

GBPUSD remains in a bull-mode condition and the pair is trading higher today. This once again confirms a resumption of the current bull phase and also highlights a stronger medium-term bullish condition. Price has cleared the 1.3000 handle, signalling scope for an extension towards 1.3092, the top of a bull channel drawn from the Oct 4 low of last year. Firm short-term support is seen at 1.2810, the 20-day EMA.

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.