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Challenging The 200-DMA

GBPUSD TECHS
  • RES 4: 1.3958 High Aug 4, 2021
  • RES 3: 1.3913 High Sep 14, 2021
  • RES 2: 1.3835/55 High Oct 20 and key resistance / 2.0% 10-dma env
  • RES 1: 1.3737/49 200-dma/High Jan 13
  • PRICE: 1.3734 @ 06:19 GMT Jan 14
  • SUP 1: 1.3621 Low Jan 12
  • SUP 2: 1.3516/3477 20-day EMA
  • SUP 3: 1.3409 Low Dec 29
  • SUP 4: 1.3343 Low Dec 23

GBPUSD maintains a bullish tone. The pair has this week cleared the 1.3600 handle and 1.3676, 76.4% of the Oct - Dec downleg. This maintains the current bullish price sequence of higher highs and higher lows. Cable is currently testing the 200-dma at 1.3737. A firm break of this average and close above would open 1.3835, Oct 20 high. Key short-term support to watch is 1.3516, the 20-day EMA. A break would threaten the trend.

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