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GBPUSD TECHS

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US TSYS/SUPPLY

Review 10Y Auction, Small Tail

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  • RES 4: 1.3983 High Jul 30
  • RES 3: 1.3958 High Aug 4
  • RES 2: 1.3913 High Sep 14 and a key resistance
  • RES 1: 1.3854 High Sep 15
  • PRICE: 1.3801 @ 06:15 BST Oct 22
  • SUP 1: 1.3695 20-day EMA
  • SUP 2: 1.3544 Low Oct 6
  • SUP 3: 1.3428/12 2.0% 10-dma env / Low Sep 29 and bear trigger
  • SUP 4: 1.3354 Low Dec 23, 2020

GBPUSD is consolidating and trading near recent highs. The rally that started late September remains intact. The pair has recently cleared the 50-day EMA and Tuesday's climb confirmed a break of 1.3795, 76.4% of the Sep 14 -29 downleg. The breach opens 1.3913, Sep 14 high and the next key resistance. On the downside, a firm short-term support is seen at 1.3695, the 20-day EMA.