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Directional Triggers Defined

GBPUSD TECHS
  • RES 4: 1.2996 High Jul 27
  • RES 3: 1.2881 76.4% retracement of the Jul 14 - Oct 4 bear leg
  • RES 2: 1.2827 High Dec 28 and the bull trigger
  • RES 1: 1.2775 High Jan 24
  • PRICE: 1.2697 @ 16:40 GMT Jan 25
  • SUP 1: 1.2597 Low Jan 17 and key short-term support
  • SUP 2: 1.2525 38.2% retracement of the Oct 4 - Dec 28 bull phase
  • SUP 3: 1.2500 Low Dec 13
  • SUP 4: 1.2432 50.0% retracement of the Oct 4 - Dec 28 bull phase

GBPUSD continues to trade inside its range with key resistance defined at 1.2827, the Dec 28 high, and key support at 1.2597, the Jan 17 low. Both levels represent important directional triggers. A clear break of 1.2827 would resume the uptrend and open 1.2881, a Fibonacci retracement. For bears, clearance of 1.2597 would highlight a short-term reversal and signal scope for weakness towards the 1.2500 handle, the Dec 13 low.

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

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