Free Trial

Has Cleared The 200 DMA

GBPUSD TECHS
  • RES 4: 1.2667 High May 27
  • RES 3: 1.2599 High Jun 7
  • RES 2: 1.2506 1.382 proj of the Sep 26 - Oct 5 - Oct 12 price swing
  • RES 1: 1.2406 High Jun 16
  • PRICE: 1.2209 @ 15:30 GMT Dec 5
  • SUP 1: 1.2154 High Nov 24 and a recent breakout point
  • SUP 2: 1.2054/1901 Low Dec 1 / Low Nov 30
  • SUP 3: 1.1908 20-day EMA
  • SUP 4: 1.1706 50-day EMA

Trend conditions in GBPUSD remain bullish and last week’s gains reinforce this condition - the break higher confirmed a resumption of the uptrend and price has cleared the 200-dma. This maintains a bullish price sequence of higher highs and higher lows and note that moving averages studies are in a bull-mode position. The focus is on 1.2406, the Jun 16 high. Key short-term support has been defined at 1.1901, the Nov 30 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.