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Holds Gains

GBPUSD TECHS
  • RES 4: 1.2518 High Jun 6
  • RES 3: 1.2406 High Jun 16 and a key resistance
  • RES 2: 1.2332 High Jun 27
  • RES 1: 1.2293 High Aug 01
  • PRICE: 1.2231 @ 16:37 BST Aug 2
  • SUP 1: 1.2081/63 20-day EMA / Low Jul 29
  • SUP 2: 1.1961 Low Jul 25
  • SUP 3: 1.1890/1760 Low Jul 21 / Low Jul 14 and the bear trigger
  • SUP 4: 1.1673 1.00 proj of the May 27 - Jun 14 - 16 price swing

GBPUSD drifted somewhat during Tuesday trade, but holds the bulk of the gains posted Monday, nearing key resistance at 1.2406. Monday’s climb confirmed a break of the 50-day EMA. This reinforces short-term bullish conditions and confirms an extension of the bounce off 1.1760, Jul 14 low.The focus is on 1.2332 next, the Jun 27 high. On the downside, initial firm support to watch lies at 1.2063, the Jul 29 low. A break would signal a possible top.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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