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 Tankan: Key Sentiment Rises, Solid Capex Plans

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

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI: UK DEC GFK CONSUMER CONFIDENCE INDEX -17

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

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: Traders Through Support

GBPUSD TECHS
USForeign Exchange Technical AnalysisGlobalCEEMEABulletUKMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 1.3527 2.00 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 3: 1.3500 Round number resistance
  • RES 2: 1.3389/3434 Oct 1 / High Sep 26 and the bull trigger
  • RES 1:  1.3242 20-day EMA
  • PRICE: 1.3090 @ 14:34 BST Oct 4
  • SUP 1: 1.3070 Intraday low
  • SUP 2: 1.3049 50.0% retracement of the Aug 8 - Sep 25 bull leg 
  • SUP 3: 1.3002 Low Sep 11 
  • SUP 4: 1.2959 61.8% retracement of the Aug 8 - Sep 25 bull leg

GBPUSD maintains a softer short-term tone following this week’s sell-off and the pair is trading lower again, today. The pair has breached support at the 20-day EMA and pierced the 50-day EMA at 1.3113. A clear break of this average would strengthen a bearish threat and open 1.3049, a Fibonacci retracement. Clearance of this level would expose 1.3002, the sep 11 low.  Initial resistance to watch is 1.3242, the 20-day EMA.

151 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: 1.3527 2.00 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 3: 1.3500 Round number resistance
  • RES 2: 1.3389/3434 Oct 1 / High Sep 26 and the bull trigger
  • RES 1:  1.3242 20-day EMA
  • PRICE: 1.3090 @ 14:34 BST Oct 4
  • SUP 1: 1.3070 Intraday low
  • SUP 2: 1.3049 50.0% retracement of the Aug 8 - Sep 25 bull leg 
  • SUP 3: 1.3002 Low Sep 11 
  • SUP 4: 1.2959 61.8% retracement of the Aug 8 - Sep 25 bull leg

GBPUSD maintains a softer short-term tone following this week’s sell-off and the pair is trading lower again, today. The pair has breached support at the 20-day EMA and pierced the 50-day EMA at 1.3113. A clear break of this average would strengthen a bearish threat and open 1.3049, a Fibonacci retracement. Clearance of this level would expose 1.3002, the sep 11 low.  Initial resistance to watch is 1.3242, the 20-day EMA.