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Eyeing Key Resistance

GBPUSD TECHS
  • RES 4: 1.3712 Low Mar 1, 2018
  • RES 3: 1.3677 76.4% retracement of the 2017 - 2020 downtrend
  • RES 2: 1.3624 High Dec 17 and the bull trigger
  • RES 1: 1.3571 High Dec 23
  • PRICE: 1.3557 @ 05:56 GMT Dec 24
  • SUP 1: 1.3304 Low Dec 22
  • SUP 2: 1.3188 Low Dec 21
  • SUP 3: 1.3135 Low Dec 11 and key support
  • SUP 4: 1.3106 Low Nov 12

Another day, another slew of Brexit headlines yesterday, this time favourable, helping GBPUSD extend the recent bounce. The move higher retains the recent uptrend and exposes last week's 1.3624 high. A break of this level would confirm a resumption of the uptrend and open 1.3677, a Fibonacci retracement. On the downside, 1.3135, Dec 11 low remains key support. Initial support is at 1.3304, Dec 22 low.

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