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GBPUSD TECHS: Northbound

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: 1.3425 1.764 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • PRICE: 1.3397 @ 15:21 BST Sep 24
  • SUP 1: 1.3249/3162 Low Sep 23 / 20-day EMA
  • SUP 2: 1.3024/3002 50-day EMA / Low Sep 11
  • SUP 3: 1.2890 Low Aug 19
  • SUP 4: 1.2852 Low Aug 16   

GBPUSD continues to climb reinforcing current bullish conditions. Last week’s move higher resulted in a print 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. Sights are on 1.3425 next, a Fibonacci projection point. Initial firm support is 1.3165, the 20-day EMA.

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  • 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: 1.3425 1.764 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • PRICE: 1.3397 @ 15:21 BST Sep 24
  • SUP 1: 1.3249/3162 Low Sep 23 / 20-day EMA
  • SUP 2: 1.3024/3002 50-day EMA / Low Sep 11
  • SUP 3: 1.2890 Low Aug 19
  • SUP 4: 1.2852 Low Aug 16   

GBPUSD continues to climb reinforcing current bullish conditions. Last week’s move higher resulted in a print 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. Sights are on 1.3425 next, a Fibonacci projection point. Initial firm support is 1.3165, the 20-day EMA.