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Consolidating

GBPUSD TECHS
  • RES 4: 1.2227 50-day EMA
  • RES 3: 1.2213 High Jun 29
  • RES 2: 1.2125 High Jul 5
  • RES 1: 1.2086 High Jul 25
  • PRICE: 1.2041 @ 16:33 BST Jul 25
  • SUP 1: 1.1890/1760 Low Jul 21 / Low Jul 14 and the bear trigger
  • SUP 2: 1.1673 1.00 proj of the May 27 - Jun 14 - 16 price swing
  • SUP 3: 1.1640 Low Mar 25 2020
  • SUP 4: 1.1503 Low Mar 24 2020

GBPUSD traded slightly stronger into the close and continues to consolidate with price still trading closer to its recent highs. An extension higher would signal scope for a stronger short-term rally and this would potentially open the 50-day EMA at 1.2277. A downtrend however remains in place for now, with the focus on 1.1673 next, a Fibonacci projection. The key support to watch is at 1.1760, the Jul 14 low. This is also the bear trigger.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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