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Clears Resistance

GBPUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 1.2448 High Jan 23 and a key medium-term resistance
  • RES 3: 1.2401 High Feb 2
  • RES 2: 1.2296 76.4% retracement of the Jan 23 - Mar 8 bear leg
  • RES 1: 1.2285 High Mar 20
  • PRICE: 1.2194 @ 16:17 GMT Mar 21
  • SUP 1: 1.2161 Low Mar 20
  • SUP 2: 1.2080/2011 50-day EMA / Low Mar 15 and key support
  • SUP 3: 1.1908 Low Mar 10
  • SUP 4: 1.1893 200-dma

GBPUSD traded higher Monday and in the process cleared resistance at 1.2204, the Mar 14 high. This has strengthened the case for bulls and note that resistance at 1.2269 has been pierced, the Feb 14 high. Sights are on 1.2296 next, a Fibonacci retracement. On the downside, key short-term support lies at 1.2011, the Mar 15 low. A move below this level would reinstate the recent bearish theme.

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  • RES 4: 1.2448 High Jan 23 and a key medium-term resistance
  • RES 3: 1.2401 High Feb 2
  • RES 2: 1.2296 76.4% retracement of the Jan 23 - Mar 8 bear leg
  • RES 1: 1.2285 High Mar 20
  • PRICE: 1.2194 @ 16:17 GMT Mar 21
  • SUP 1: 1.2161 Low Mar 20
  • SUP 2: 1.2080/2011 50-day EMA / Low Mar 15 and key support
  • SUP 3: 1.1908 Low Mar 10
  • SUP 4: 1.1893 200-dma

GBPUSD traded higher Monday and in the process cleared resistance at 1.2204, the Mar 14 high. This has strengthened the case for bulls and note that resistance at 1.2269 has been pierced, the Feb 14 high. Sights are on 1.2296 next, a Fibonacci retracement. On the downside, key short-term support lies at 1.2011, the Mar 15 low. A move below this level would reinstate the recent bearish theme.