Free Trial

Finds Resistance

GBPUSD TECHS
  • RES 4: 1.2667 High May 27
  • RES 3: 1.2599 High Jun 7
  • RES 2: 1.2506 1.382 proj of the Sep 26 - Oct 5 - Oct 12 price swing
  • RES 1: 1.2446 High Dec 14 and the bull trigger
  • PRICE: 1.2204 @ 06:07 GMT Dec 16
  • SUP 1: 1.2157 Low Dec 15
  • SUP 2: 1.2119/07 20-day EMA / Low Dec 7 and a key support
  • SUP 3: 1.2054/1901 Low Dec 1 / Low Nov 30
  • SUP 4: 1.1872 50-day EMA

Trend conditions in GBPUSD remain bullish, however, Thursday’s strong sell-off signals a possible short-term top. Attention is on the first key support at 1.2107, the Dec 7 low. Clearance of this level would pave the way for a move towards 1.1901, the Noc 30 low. On the upside, key short-term resistance has been defined at 1.2446, the Dec 14 high. A turn higher and a break of this hurdle, would confirm a resumption of the uptrend.

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.