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GBPUSD TECHS: Starting The week On A Firmer Note

GBPUSD TECHS
USForeign Exchange Technical AnalysisGlobalCEEMEABulletUKMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 1.3362 1.618 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 3: 1.3328 76.4% retrace of the Jun 2021 - Sep 2022 bear leg
  • RES 2: 1.3266 High Aug 27 and the bull trigger
  • RES 1: 1.3238 High Sep 6
  • PRICE: 1.3194 @ 10:29 BST Sep 16
  • SUP 1: 1.3081/3002 20-day EMA / Low Sep 11
  • SUP 2: 1.2976 50-day EMA
  • SUP 3: 1.2895 61.8% retracement of the Aug 8 - 27 bull leg
  • SUP 4:  1.2852 Low Aug 16   

GBPUSD bounced off last week’s lows and the pair is firmer today, as it extends the latest recovery. The recent move down is considered corrective and this allowed an overbought condition to unwind. A continuation higher would refocus attention on key short-term resistance at 1.3266, the Aug 27 high. For bears, a resumption of the downleg would signal scope for a deeper retracement, potentially towards the 50-day EMA, at 1.2976.

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  • RES 4: 1.3362 1.618 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 3: 1.3328 76.4% retrace of the Jun 2021 - Sep 2022 bear leg
  • RES 2: 1.3266 High Aug 27 and the bull trigger
  • RES 1: 1.3238 High Sep 6
  • PRICE: 1.3194 @ 10:29 BST Sep 16
  • SUP 1: 1.3081/3002 20-day EMA / Low Sep 11
  • SUP 2: 1.2976 50-day EMA
  • SUP 3: 1.2895 61.8% retracement of the Aug 8 - 27 bull leg
  • SUP 4:  1.2852 Low Aug 16   

GBPUSD bounced off last week’s lows and the pair is firmer today, as it extends the latest recovery. The recent move down is considered corrective and this allowed an overbought condition to unwind. A continuation higher would refocus attention on key short-term resistance at 1.3266, the Aug 27 high. For bears, a resumption of the downleg would signal scope for a deeper retracement, potentially towards the 50-day EMA, at 1.2976.