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Fresh Trend Low

GBPUSD TECHS
  • RES 4: 1.2332 High Jun 27
  • RES 3: 1.2213 High Jun 29
  • RES 2: 1.2056/2095 High Jul 8 / 20-day EMA
  • RES 1: 1.1967 High Jul 13
  • PRICE: 1.1803 @ 16:28 BST Jul 14
  • SUP 1: 1.1760 Low Jul 14
  • SUP 2: 1.1673 1.00 proj of the May 27 - Jun 14 - 16 price swing
  • SUP 3: 1.1640 Low Mar 25 2020
  • SUP 4: 1.1503 Low Mar 24 2020

GBPUSD traded lower Thusday and delivered another fresh trend low, at 1.1760. This marks an extension of last week’s move lower that resulted in a break of a bear trigger at 1.1934, Jun 14 low. It also maintains the bearish price sequence of lower lows and lower highs. The focus shifts to 1.1673 next, a Fibonacci projection. Firm resistance is seen at 1.2095, the 20-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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