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Eyeing The 2020 High

CABLE TECHS
  • RES 4: 1.3312 1.00 proj of Mar 20 - Apr 14 rally from May 18 low
  • RES 3: 1.3284 High Dec 31, 2019
  • RES 2: 1.3278 High 2020 (Jan 1)
  • RES 1: 1.3265 Intraday high
  • PRICE: 1.3240 @ 05:45 BST Aug 19
  • SUP 1: 1.3098 Low Aug 18
  • SUP 2: 1.3049 Low Aug 14
  • SUP 3: 1.2982 Low Aug 4 and bear trigger
  • SUP 4: 1.2945 Low Jul 30

GBPUSD gained alongside most other USD pairs Tuesday and cleared former resistance at 1.3186, Aug 6 high. This confirms a resumption of the underlying uptrend and brings the 2020 and late-2019 highs into view at 1.3278 / 84 as the first targets. Trend signals remain bullish with moving average studies still pointing north. Key support is at 1.2982, a break is required to signal a short-term reversal.

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