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COPPER TECHS

(Z1) Bearish Outlook Intact

BONDS

Massive selling hit Govies

USD Index (DXY) Double Bottom Reversal

Bullish Focus

GBPUSD TECHS
  • RES 4: 1.3935 High Apr 27, 2018
  • RES 3: 1.3804 High Apr 30, 2018
  • RES 2: 1.3773 High May 1, 2018
  • RES 1: 1.3759 High Jan 27 and the bull trigger
  • PRICE: 1.3684 @ 06:13 GMT Feb 2
  • SUP 1: 1.3610 Low Jan 26
  • SUP 2: 1.3520 Low Jan 18, 50-day EMA and key near-term support
  • SUP 3: 1.3505 Low Jan 12
  • SUP 4: 1.3452 Low Jan 11

GBPUSD maintains a bullish stance. The pair traded to a fresh high of 1.3759 last week, reinforcing bullish conditions and maintaining the current bullish price sequence of higher highs and higher lows. Attention is on 1.3773 next, May 1 2018 high. Near-term firm support has been defined at 1.3520, Jan 18 low. A breach would signal scope for a deeper short-term sell-off and expose 1.3452, Jan 11 low. Initial support lies at 1.3610, Jan 26.