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GBPUSD TECHS: Approaching The 20-Day EMA

GBPUSD TECHS
USForeign Exchange Technical AnalysisCEEMEABulletUKMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.3175 High Oct 4 
  • RES 3: 1.3048 High Nov 6 and a key resistance
  • RES 2: 1.2869 50-day EMA 
  • RES 1: 1.2729 20-day EMA  
  • PRICE: 1.2711 @ 06:25 GMT Nov 29 
  • SUP 1: 1.2567/2487 Low Nov 27 / 22 and the bear trigger   
  • SUP 2: 1.2446 Low May 9
  • SUP 3. 1.2367 76.4% retracement of the Oct 4 ‘23 - Sep 26 uptrend 
  • SUP 4: 1.2300 Low Apr 22 and a key support     

Gains this week in GBPUSD highlight the start of a corrective cycle. The move higher is allowing an oversold trend condition to unwind. Initial firm resistance to monitor is 1.2729, the 20-day EMA. A break of the average would signal scope for a stronger recovery. The medium-term trend condition remains bearish, with moving average studies in a bear-mode set-up. The bear trigger is 1.2487, the Nov 22 low. 

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  • RES 4: 1.3175 High Oct 4 
  • RES 3: 1.3048 High Nov 6 and a key resistance
  • RES 2: 1.2869 50-day EMA 
  • RES 1: 1.2729 20-day EMA  
  • PRICE: 1.2711 @ 06:25 GMT Nov 29 
  • SUP 1: 1.2567/2487 Low Nov 27 / 22 and the bear trigger   
  • SUP 2: 1.2446 Low May 9
  • SUP 3. 1.2367 76.4% retracement of the Oct 4 ‘23 - Sep 26 uptrend 
  • SUP 4: 1.2300 Low Apr 22 and a key support     

Gains this week in GBPUSD highlight the start of a corrective cycle. The move higher is allowing an oversold trend condition to unwind. Initial firm resistance to monitor is 1.2729, the 20-day EMA. A break of the average would signal scope for a stronger recovery. The medium-term trend condition remains bearish, with moving average studies in a bear-mode set-up. The bear trigger is 1.2487, the Nov 22 low.