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CHF

USDCHF Hovering Below Notable Resistance Area

USDJPY TECHS

Support Appears Exposed

FOREX

Greenback Bounces To Three-Week Highs

Bullish Structure Intact

GBPUSD TECHS
  • RES 4: 1.4082 1.00 proj of May - Sep 2020 rally from Sep 23 low
  • RES 3: 1.3998 High Apr 26, 2018
  • RES 2: 1.3935 High Apr 27, 2018
  • RES 1: 1.3866 High Feb 10
  • PRICE: 1.3798 @ 06:04 GMT Feb 12
  • SUP 1: 1.3707 20-day EMA
  • SUP 2: 1.35833/67 50-day EMA / Low Feb 4 and key support
  • SUP 3: 1.3520 Low Jan 18
  • SUP 4: 1.3505 Low Jan 12

GBPUSD maintains a firmer tone and hit a new cycle high again this week. Continued gains confirm a resumption of the underlying uptrend that has been in place since the early March 2020 reversal. 1.3804, Apr 30, 2020 high has been breached, the focus is on 1.3935 next, Apr 27, 2018 high. On the downside, firm support lies at 1.3567, Feb 4 low. A break is required to dent the current bullish theme. Initial support is at 1.3707, the 20-day EMA.