Free Trial

Heading North

GBPUSD TECHS
  • RES 4: 1.2448 High Jan 23 and a key medium-term resistance
  • RES 3: 1.2401 High Feb 2
  • RES 2: 1.2383 2.0% 10-dma envelope
  • RES 1: 1.2335 High Mar 22
  • PRICE: 1.2333 @ 05:38 GMT Mar 23
  • SUP 1: 1.2264/1.2179 Intraday low / Low Mar 21
  • SUP 2: 1.2111 20-day EMA
  • SUP 3: 1.2093 50-day EMA
  • SUP 4: 1.2011 Low Mar 15

GBPUSD maintains a short-term bullish tone and is trading at this week’s highs. The pair has cleared a number of short-term resistance points this week signalling scope for an extension higher. The focus is on a climb towards 1.2401, the Feb 2 high and 1.2448, the Jan 23 high. The latter is a key medium-term resistance. On the downside, initial firm support lies at 1.2179, the Mar 21 low, ahead of 1.2111, the 20-day EMA.

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.