Free Trial

Higher Highs

GBPUSD TECHS
  • RES 4: 1.3697 2.0% 10-dma envelope
  • RES 3: 1.3607 High Nov 9
  • RES 2: 1.3562/78 100-dma / 61.8% of the Oct - Dec sell-off
  • RES 1: 1.3557 High Jan 04
  • PRICE: 1.3537 @ 16:25 GMT Jan 4
  • SUP 1: 1.3431 Low Jan 3
  • SUP 2: 1.3391 20-day EMA
  • SUP 3: 1.3343 Low Dec 23
  • SUP 4: 1.3240 Low Dec 22

GBPUSD traded higher Tuesday, topping the recent best levels and touching 1.3557 in the process. The pair remains above its 50-day EMA at 1.3427 - the recent breach of this average reinforced bullish conditions. A resumption of strength would clear the way for 1.3578, a Fibonacci retracement and 1.3607, the Nov 9 high. Note that 1.3562 the 100-dma also represents an important resistance. Firm support to watch is at 1.3391, 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.