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DUTCH AUCTION RESULTS

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  • RES 4: 1.3854 High Sep 15
  • RES 3: 1.3795 76.4% retracement of the Sep 14 -29 downleg
  • RES 2: 1.3709 50-day EMA
  • RES 1: 1.3674 High Oct 11
  • PRICE: 1.3663 @ 06:16 BST Oct 14
  • SUP 1: 1.3544/3412 Low Oct 6 / Low Sep 29 and the bear trigger
  • SUP 2: 1.3354 Low Dec 23, 2020
  • SUP 3: 1.3320 2.0% 10-dma envelope
  • SUP 4: 1.3277 61.8% retracement of the Sep '20 - Jan bull phase

GBPUSD traded higher yesterday but remains within its recent range. A bearish risk is still present despite the recent corrective recovery. This follows weakness on Sep 28 and 29 and the recent breach of a triangle base drawn from the Jul 20 low. Moving average studies are in a bear mode too. The focus is on 1.3354, Dec 23, 2020 low. Initial resistance is at 1.3674, Oct 11 high. A break would allow for an extension towards 1.3709, the 50-day EMA.