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Bullish Focus

GBPUSD TECHS
  • RES 4: 1.3804 High Apr 20, 2018
  • RES 3: 1.3773 High May 1, 2018
  • RES 2: 1.3712 Low Mar 1, 2018
  • RES 1: 1.3698 Intraday high
  • PRICE: 1.3678 @ 05:55 GMT Jan 4
  • SUP 1: 1.3492 20-day EMA
  • SUP 2: 1.3430 Low Dec 28
  • SUP 3: 1.3344 50-day EMA
  • SUP 4: 1.3304 Low Dec 22

GBPUSD starts the year on a firm note and is holding onto last week's gains. The pair has cleared the key resistance at 1.3624, Dec 17 high. The breach of this hurdle reinforces the positive trend structure and opens 1.3712 next, the Mar 1, 2018 low. On the downside and given last month's volatile price action, 1.3135, Dec 11 low remains key trend support. Firm support lies at 1.3430, Dec 28 low and 1.3304, Dec 22 low.

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