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Why MNI
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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.
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Free AccessGBPUSD TECHS: Resistance Has Been Cleared
- RES 4: 1.3142 High Jul 14 ‘23 and a key resistance
- RES 3: 1.3035 1.764 proj of the Apr 22 - May 3 - 9 price swing
- RES 2: 1.2996 High Jul 27 2023
- RES 1: 1.2991 High Jul 12
- PRICE: 1.2990 @ 16:29 BST Jul 12
- SUP 1: 1.2848 Low Jul 11
- SUP 2: 1.2752/2705 20- and 50-day EMA
- SUP 3: 1.2613 Low Jun 27
- SUP 4: 1.2584 Low May 15
GBPUSD remains in a bull-mode condition and Thursday’s strong impulsive rally extended through Friday trade. The move higher has resulted in a break of key short-term resistance at 1.2860, the Jun 12 high and a bull trigger. This was followed by a breach of 1.2894, the Mar 8 high and a key medium-term resistance, strengthening a bullish condition. The break opens 1.2996, the Jul 27 ‘23 high. Initial firm support is 1.2735, the 20-day EMA.
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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.