Free Trial

Clears Support

GBPUSD TECHS
  • RES 4: 1.2767 61.8% of the Jun 1 ‘21 - Sep 26 ‘22 downtrend
  • RES 3: 1.2680 High May 10 and the bull trigger
  • RES 2: 1.2547/2641 High May 16 / 11
  • RES 1: 1.2408/69 20-day EMA
  • PRICE: 1.2343 @ 16:08 BST May 25
  • SUP 1: 1.2327 Low May 25
  • SUP 2: 1.2275 Low Apr 3
  • SUP 3: 1.2242 50.0% retracement of the Mar 8 - May 10 bull run
  • SUP 4: 1.2213 Low Mar 27

GBPUSD bears remain in the driver’s seat and the pair continues to weaken. Support at the 50-day EMA has been breached and price is also through 1.2345, the Apr 10 low. This signals scope for an extension of the bear cycle towards 1.2242 next, a Fibonacci retracement. On the upside, initial firm resistance is at 1.2469, the 20-day EMA. A break above 1.2547, the May 16 high, is required to signal a reversal.

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

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.