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Bullish Focus Intact

CABLE TECHS
  • RES 4: 1.3130 High Mar 10
  • RES 3: 1.3020 0.764 proj of the Mar 20 - Apr 14 rally from May 18 low
  • RES 2: 1.2977 High Mar 11
  • RES 1: 1.2859 Intraday high
  • PRICE: 1.2842 @ 10:29 BST Jul 27
  • SUP 1: 1.2717 Low Jul 24
  • SUP 2: 1.2644 Low Jul 22
  • SUP 3: 1.2611 20-day EMA
  • SUP 4: 1.2535/2480 50-day EMA / Low Jul 14

GBPUSD maintains a bullish tone and has started the week on a firm
note. The pair has today cleared resistance at 1.2813 Jun 10 high,
confirming a resumption of the broader uptrend that has been in place
since the reversal on Mar 20. Attention turns to 1.2977, Mar 11 high and
1.3020, a Fibonacci projection. On the downside, firm near-term support
has been defined at 1.2644, Jul 22 low. Bullish!

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