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Bulls Still In Charge

  • 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: 1.3745 @ 06:00 GMT Feb 1
  • SUP 1: 1.3610 Low Jan 26
  • SUP 2: 1.3520 Low Jan 18 and key near-term support
  • SUP 3: 1.3514/05 50-day EMA / Low Jan 12
  • SUP 4: 1.3452 Low Jan 11

GBPUSD traded to a fresh high of 1.3759 on Jan 27, reinforcing bullish conditions and the current uptrend the high maintains the 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 is at 1.3610, Jan 26.

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