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JGB TECHS

(Z2) Stable at a Lower Level

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Hammer Candle Formation?

GBPUSD TECHS
  • RES 4: 1.1391 20-day EMA
  • RES 3: 1.1274 High Sep 23
  • RES 2: 1.1000 Round number resistance
  • RES 1: 1.0931 High Sep 26
  • PRICE: 10770 @ 06:11 BST Sep 27
  • SUP 1: 1.0350 All Time Low
  • SUP 2: 1.0203 3.236 proj of the Jun 16 - Jul 14 - Aug 1 price swing
  • SUP 3: 1.0108 3.382 proj of the Jun 16 - Jul 14 - Aug 1 price swing
  • SUP 4: 1.0032 3.50 proj of the Jun 16 - Jul 14 - Aug 1 price swing

Bearish trend conditions in GBPUSD remain intact. Monday’s volatile price activity highlights an important short-term support at 1.0350. The trend is down and a break of this support would confirm a resumption of bearish activity. Yesterday’s close also highlights an important candle pattern - a hammer and potential reversal signal. A break above Monday’s high is required though to strengthen this signal and highlight a potential S/T base.

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  • RES 4: 1.1391 20-day EMA
  • RES 3: 1.1274 High Sep 23
  • RES 2: 1.1000 Round number resistance
  • RES 1: 1.0931 High Sep 26
  • PRICE: 10770 @ 06:11 BST Sep 27
  • SUP 1: 1.0350 All Time Low
  • SUP 2: 1.0203 3.236 proj of the Jun 16 - Jul 14 - Aug 1 price swing
  • SUP 3: 1.0108 3.382 proj of the Jun 16 - Jul 14 - Aug 1 price swing
  • SUP 4: 1.0032 3.50 proj of the Jun 16 - Jul 14 - Aug 1 price swing

Bearish trend conditions in GBPUSD remain intact. Monday’s volatile price activity highlights an important short-term support at 1.0350. The trend is down and a break of this support would confirm a resumption of bearish activity. Yesterday’s close also highlights an important candle pattern - a hammer and potential reversal signal. A break above Monday’s high is required though to strengthen this signal and highlight a potential S/T base.