Free Trial

Clears The 50-Day EMA

GBPUSD TECHS
  • RES 4: 1.4377 High Apr 17, 2018 and a key resistance
  • RES 3: 1.4315 High Apr 18, 2018
  • RES 2: 1.4203/48 High Jun 3 / High Jun 1 and the bull trigger
  • RES 1: 1.4133 High Jun 16
  • PRICE: 1.3955 @ 15:50 BST Jun 17
  • SUP 1: 1.3935 100-DMA
  • SUP 2: 1.3920 Low Jun 17
  • SUP 3: 1.3887 Low May 7
  • SUP 4: 1.3858 Low May 6

GBPUSD weakness accelerated Wednesday, with prices breaking below key support at the 50-day EMA. The move through the average strengthens a short-term bearish outlook and scope is seen for a deeper corrective pullback. The 100-DMA then gave way Thursday, although prices managed to recover back above ahead of the close. For bulls, a climb above 1.4133, Wednesday's high is required to ease the current bearish pressure. Key trend resistance is at 1.4248, Jun 1 high.

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.