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Downtrend Accelerates And Parity Beckons

GBPUSD TECHS
  • RES 4: 1.1465 20-day EMA
  • RES 3: 1.1274 High Sep 23
  • RES 2: 1.1000 Round number resistance
  • RES 1: 1.0846 Intraday high
  • PRICE: 1.0536 @ 05:32 BST Sep 26
  • SUP 1: 1.0350 Intraday low
  • SUP 2: 1.0203 3.236 proj of the Jun 16 - Jul 14 - Aug 1 price swing
  • SUP 3: 1.0108 3.382 proj of the Jun 16 - Jul 14 - Aug 1 price swing
  • SUP 4: 1.0032 3.50 proj of the Jun 16 - Jul 14 - Aug 1 price swing

Bearish trend conditions in GBPUSD remain intact and the pair continues to weaken - today’s move lower has again reinforced current bearish sentiment as the downtrend extends. The sell-off maintains the bearish price sequence of lower lows and lower highs, signalling scope for a continuation. The focus is on a potential test of parity, possibly in the near-term, given the current impulsive move lower.

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  • RES 4: 1.1465 20-day EMA
  • RES 3: 1.1274 High Sep 23
  • RES 2: 1.1000 Round number resistance
  • RES 1: 1.0846 Intraday high
  • PRICE: 1.0536 @ 05:32 BST Sep 26
  • SUP 1: 1.0350 Intraday low
  • SUP 2: 1.0203 3.236 proj of the Jun 16 - Jul 14 - Aug 1 price swing
  • SUP 3: 1.0108 3.382 proj of the Jun 16 - Jul 14 - Aug 1 price swing
  • SUP 4: 1.0032 3.50 proj of the Jun 16 - Jul 14 - Aug 1 price swing

Bearish trend conditions in GBPUSD remain intact and the pair continues to weaken - today’s move lower has again reinforced current bearish sentiment as the downtrend extends. The sell-off maintains the bearish price sequence of lower lows and lower highs, signalling scope for a continuation. The focus is on a potential test of parity, possibly in the near-term, given the current impulsive move lower.