MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

GBPUSD TECHS: Bullish Trend Condition

GBPUSD TECHS
USForeign Exchange Technical AnalysisGlobalCEEMEABulletUKMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 1.3425 1.764 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 3: 1.3362 1.618 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 2: 1.3328 76.4% retrace of the Jun 2021 - Sep 2022 bear leg
  • RES 1: 1.3314 High Sep 19
  • PRICE: 1.3292 @ 06:07 BST Sep 20
  • SUP 1: 1.3128 20-day EMA
  • SUP 2: 1.3012/3002 50-day EMA / Low Sep 11
  • SUP 3: 1.2890 Low Aug 19
  • SUP 4: 1.2852 Low Aug 16   

GBPUSD traded to a fresh trend high Thursday. The move higher this week has resulted in a print above key resistance at 1.3266, the Aug 27 high. The break of this level confirms a resumption of the medium-term uptrend. Note too that moving average studies are in a bull-mode position, reflecting a clear uptrend. Scope is seen for a climb towards 1.3328, a Fibonacci retracement point. Initial firm support is 1.3128, the 20-day EMA.

153 words

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.
  • RES 4: 1.3425 1.764 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 3: 1.3362 1.618 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 2: 1.3328 76.4% retrace of the Jun 2021 - Sep 2022 bear leg
  • RES 1: 1.3314 High Sep 19
  • PRICE: 1.3292 @ 06:07 BST Sep 20
  • SUP 1: 1.3128 20-day EMA
  • SUP 2: 1.3012/3002 50-day EMA / Low Sep 11
  • SUP 3: 1.2890 Low Aug 19
  • SUP 4: 1.2852 Low Aug 16   

GBPUSD traded to a fresh trend high Thursday. The move higher this week has resulted in a print above key resistance at 1.3266, the Aug 27 high. The break of this level confirms a resumption of the medium-term uptrend. Note too that moving average studies are in a bull-mode position, reflecting a clear uptrend. Scope is seen for a climb towards 1.3328, a Fibonacci retracement point. Initial firm support is 1.3128, the 20-day EMA.