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Fresh YTD Lows

GBPUSD TECHS
  • RES 4: 1.3698 High Nov 4
  • RES 3: 1.3607 High Nov 9
  • RES 2: 1.3514 High Nov 18 and a key resistance
  • RES 1: 1.3366/70 20-day EMA / High Nov 30
  • PRICE: 1.3217 @ 16:05 GMT Dec 8
  • SUP 1: 1.3163 Low Dec 08
  • SUP 2: 1.3149 1.0% 10-dma envelope
  • SUP 3: 1.3135 Low Dec 11 2020
  • SUP 4: 1.3108 3.0% Lower Bollinger Band

The GBPUSD sell off accelerated Wednesday, with prices slipping through the bear trigger at 1.3195 to hit fresh 2021 lows of 1.3163. This cements the downside risk, opening vol-band support at 1.3149 ahead of the Dec 11 2020 lows at 1.3135. Resistance remains at 1.3366, the 20-day EMA. A break would signal a potential short-term base.

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

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