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Fresh Cycle Low

GBPUSD TECHS
  • RES 4: 1.3432 50-day EMA
  • RES 3: 1.3358 Low Jan 27
  • RES 2: 1.3342 20-day EMA
  • RES 1: 1.3259 High Mar 7
  • PRICE: 1.3084 @ 06:21 GMT Mar 11
  • SUP 1: 1.3040 Intraday low
  • SUP 2: 1.3058 1.50 proj of the Jan 13 - 27 - Feb 10 price swing
  • SUP 3: 1.2933 Low Nov 5 2020
  • SUP 4: 1.2855 Low Nov 2 2020 and a key support

The GBPUSD trend condition remains bearish and the pair has registered a fresh low print of 1.3070 today. The sell-off earlier in the week cleared key support at 1.3163, Dec 8 low. The move lower reinforces bearish conditions and confirmed a resumption of the broader downtrend that started early Jan 2021. This opens 1.3058 next, a 1.50 projection of the Jan 13 - 27 - Feb 10 price swing. On the upside, initial resistance is seen at Monday’s 1.3259 high.

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