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Corrective Pullback

GBPUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 1.2908 1.382 proj of the Apr 22 - May 3 - 9 price swing
  • RES 3: 1.2894 High Mar 8 and a key resistance
  • RES 2: 1.2859 1.236 proj of the Apr 22 - May 3 - 9 price swing
  • RES 1: 1.2801/03 High May 29 / High Mar 21
  • PRICE: 1.2694 @ 06:09 BST May 30
  • SUP 1: 1.2657/1.2618 20- and 50-day EMA values
  • SUP 2: 1.2510 Low May 14
  • SUP 3: 1.2446 Low May 9 and a key near-term support
  • SUP 4: 1.2423 Low Apr 24

GBPUSD bulls remain in the driver’s, however, near-term a corrective cycle has started following the reversal from Tuesday’s 1.2801 high. Initial support to watch is 1.2657, the 20-day EMA. The 50-day EMA is at 1.2618 and marks a more important support point. A clear break of this average would signal scope for a deeper retracement. For bulls, a resumption of gains would open 1.2803, the Mar 21 high and 1.2859, a Fibonacci projection.

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  • RES 4: 1.2908 1.382 proj of the Apr 22 - May 3 - 9 price swing
  • RES 3: 1.2894 High Mar 8 and a key resistance
  • RES 2: 1.2859 1.236 proj of the Apr 22 - May 3 - 9 price swing
  • RES 1: 1.2801/03 High May 29 / High Mar 21
  • PRICE: 1.2694 @ 06:09 BST May 30
  • SUP 1: 1.2657/1.2618 20- and 50-day EMA values
  • SUP 2: 1.2510 Low May 14
  • SUP 3: 1.2446 Low May 9 and a key near-term support
  • SUP 4: 1.2423 Low Apr 24

GBPUSD bulls remain in the driver’s, however, near-term a corrective cycle has started following the reversal from Tuesday’s 1.2801 high. Initial support to watch is 1.2657, the 20-day EMA. The 50-day EMA is at 1.2618 and marks a more important support point. A clear break of this average would signal scope for a deeper retracement. For bulls, a resumption of gains would open 1.2803, the Mar 21 high and 1.2859, a Fibonacci projection.