Free Trial

Bullish Outlook

GBPUSD TECHS
  • RES 4: 1.2518 High Jun 6
  • RES 3: 1.2406 High Jun 16 and a key resistance
  • RES 2: 1.2332 High Jun 27
  • RES 1: 1.2293 High Aug 01
  • PRICE: 1.2169 @ 20:11 BST Aug 4
  • SUP 1: 1.2063 Low Jul 29
  • SUP 2: 1.1961 Low Jul 25
  • SUP 3: 1.1890/1760 Low Jul 21 / Low Jul 14 and the bear trigger
  • SUP 4: 1.1673 1.00 proj of the May 27 - Jun 14 - 16 price swing

GBPUSD remains below its recent highs. A bullish short-term theme is still intact though. Price has recently traded above the 50-day EMA. This reinforces short-term bullish conditions with the next objective at 1.2332, the Jun 27 high. Potential is seen for a climb towards 1.2406, the Jun 16 high and a key resistance. On the downside, initial firm support to watch lies at 1.2063, the Jul 29 low.

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.