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Bulls Press Pause

GBPUSD TECHS
  • RES 4: 1.4377 2018 High and Major Resistance
  • RES 3: 1.4344 High April 18 2018
  • RES 2: 1.4246 2.0% 10-dma envelope
  • RES 1: 1.4237 High Feb 24
  • PRICE: 1.4104 @ 17:08 GMT Feb 25
  • SUP 1: 1.4079 23.6% Fib of February Rally
  • SUP 2: 1.3952 High Feb 16
  • SUP 3: 1.3776 Low Feb 12 and Key near-term support
  • SUP 4: 1.3737 Low Feb 9

Price edged off the multi-year high printed earlier this week, as bullish momentum appeared to run out of steam slightly. This does little to change the picture, however, with moving average studies solidly in bull mode. Next upside levels rest at 1.4246 vol band resistance and the 1.4344 high last posted in 2018. Key support is seen into the 23.6% Fib of the February rally at 1.4079.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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