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GBPUSD TECHS: Has Breached Resistance

GBPUSD TECHS
USForeign Exchange Technical AnalysisCEEMEABulletUKMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.2667 High Dec 19
  • RES 3: 1.2610 38.2% retracement of the Sep 26 ‘24 - Jan 13 swing   
  • RES 2: 1.2576 High Jan 7 
  • RES 1: 1.2550 High Feb 5
  • PRICE: 1.2487 @ 06:26 GMT Feb 6
  • SUP 1: 1.2420/2249 20-day EMA / Low Jan 3   
  • SUP 2: 1.2161 Low Jan 17 / 20
  • SUP 3: 1.2100 Low Jan 10 and the bear trigger 
  • SUP 4: 1.2087 0.764 proj of the Sep 26 - Nov 22 - Dec 6 price swing    

Gains this week in GBPUSD have resulted in a breach of the 20-day EMA and delivered a print above 1.2503, the 50-day EMA, and 1.2523, the Jan 27 high. A continuation higher would signal scope for a move towards 1.2610, a Fibonacci retracement. On the downside, key short-term support has been defined at 1.2249, the Jan 3 low. A break of this level would highlight a reversal. First support lies at 1.2420, the 20-day EMA.

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  • RES 4: 1.2667 High Dec 19
  • RES 3: 1.2610 38.2% retracement of the Sep 26 ‘24 - Jan 13 swing   
  • RES 2: 1.2576 High Jan 7 
  • RES 1: 1.2550 High Feb 5
  • PRICE: 1.2487 @ 06:26 GMT Feb 6
  • SUP 1: 1.2420/2249 20-day EMA / Low Jan 3   
  • SUP 2: 1.2161 Low Jan 17 / 20
  • SUP 3: 1.2100 Low Jan 10 and the bear trigger 
  • SUP 4: 1.2087 0.764 proj of the Sep 26 - Nov 22 - Dec 6 price swing    

Gains this week in GBPUSD have resulted in a breach of the 20-day EMA and delivered a print above 1.2503, the 50-day EMA, and 1.2523, the Jan 27 high. A continuation higher would signal scope for a move towards 1.2610, a Fibonacci retracement. On the downside, key short-term support has been defined at 1.2249, the Jan 3 low. A break of this level would highlight a reversal. First support lies at 1.2420, the 20-day EMA.