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Clears The 200 DMA

GBPUSD TECHS
  • RES 4: 1.2667 High May 27
  • RES 3: 1.2599 High Jun 7
  • RES 2: 1.2506 1.382 proj of the Sep 26 - Oct 5 - Oct 12 price swing
  • RES 1: 1.2339 1.236 proj of the Sep 26 - Oct 5 - Oct 12 price swing
  • PRICE: 1.2256 @ 19:54 GMT Dec 1
  • SUP 1: 1.2054/1901 Low Dec 1 / Low Nov 30
  • SUP 2: 1.1829 20-day EMA
  • SUP 3: 1.1660 50-day EMA
  • SUP 4: 1.1500 Round number support

Trend conditions in GBPUSD remain bullish and Thursday’s gains reinforce this condition - the break higher has confirmed a resumption of the uptrend and price has cleared the 200-dma. This maintains a bullish price sequence of higher highs and higher lows and note the moving averages are in a bull-mode position. The focus is on 1.2339, a Fibonacci projection. Key short-term support has been defined at 1.1901, Wednesday’s low.

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  • RES 4: 1.2667 High May 27
  • RES 3: 1.2599 High Jun 7
  • RES 2: 1.2506 1.382 proj of the Sep 26 - Oct 5 - Oct 12 price swing
  • RES 1: 1.2339 1.236 proj of the Sep 26 - Oct 5 - Oct 12 price swing
  • PRICE: 1.2256 @ 19:54 GMT Dec 1
  • SUP 1: 1.2054/1901 Low Dec 1 / Low Nov 30
  • SUP 2: 1.1829 20-day EMA
  • SUP 3: 1.1660 50-day EMA
  • SUP 4: 1.1500 Round number support

Trend conditions in GBPUSD remain bullish and Thursday’s gains reinforce this condition - the break higher has confirmed a resumption of the uptrend and price has cleared the 200-dma. This maintains a bullish price sequence of higher highs and higher lows and note the moving averages are in a bull-mode position. The focus is on 1.2339, a Fibonacci projection. Key short-term support has been defined at 1.1901, Wednesday’s low.