Free Trial

Directional Triggers Defined

GBPUSD TECHS
  • RES 4: 1.2518 High Jun 6
  • RES 3: 1.2406 High Jun 16 and a key resistance
  • RES 2: 1.2332 High Jun 27
  • RES 1: 1.2293 High Aug 01
  • PRICE: 1.2052 @ 15:52 BST Aug 17
  • SUP 1: 1.2004 Low Aug 5
  • SUP 2: 1.1961 Low Jul 25
  • SUP 3: 1.1890/1760 Low Jul 21 / Low Jul 14 and the bear trigger
  • SUP 4: 1.1673 1.00 proj of the May 27 - Jun 14 - 16 price swing

Recent price action in GBPUSD highlights two important short-term directional triggers; resistance at 1.2293, the Aug 1 high and support at 1.2004, the Aug 5 low. The short-term trend outlook is bullish but a break of 1.2293 is required to reinforce this and signal a resumption of the bull cycle. A break would open 1.2406, the Jun 16 high. On the downside, clearance of support at 1.2004 would instead expose 1.1890, the Jul 21 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.