FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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: Bulls Remain In The Driver’s Seat

GBPUSD TECHS
USForeign Exchange Technical AnalysisGlobalCEEMEABulletUKMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 1.3629 2.236 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 3: 1.3527 2.00 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 2: 1.3500 Round number resistance
  • RES 1: 1.3430 High Sep 25
  • PRICE: 1.3337 @ 08:50 BST Sep 26
  • SUP 1: 1.3249/3202 Low Sep 23 / 20-day EMA
  • SUP 2: 1.3052 50-day EMA 
  • SUP 3: 1.3002 Low Sep 11 
  • SUP 4: 1.2890 Low Aug 19  

GBPUSD started strong Wednesday before fading through the London close. The recent move higher resulted in a climb above key resistance at 1.3266, the Aug 27 high. This breach confirmed 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 the 1.3500 handle next. Initial firm support is 1.3202, the 20-day EMA.     

143 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: 1.3629 2.236 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 3: 1.3527 2.00 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 2: 1.3500 Round number resistance
  • RES 1: 1.3430 High Sep 25
  • PRICE: 1.3337 @ 08:50 BST Sep 26
  • SUP 1: 1.3249/3202 Low Sep 23 / 20-day EMA
  • SUP 2: 1.3052 50-day EMA 
  • SUP 3: 1.3002 Low Sep 11 
  • SUP 4: 1.2890 Low Aug 19  

GBPUSD started strong Wednesday before fading through the London close. The recent move higher resulted in a climb above key resistance at 1.3266, the Aug 27 high. This breach confirmed 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 the 1.3500 handle next. Initial firm support is 1.3202, the 20-day EMA.