© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
POLAND

Momentum on EURPLN Remains Firm

EURIBOR OPTIONS

Downside put spread trades again

OIL

Tight Supply Driving Prompt Spreads

EGB OPTIONS

Bund call spread seller

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Topics

Impulsive Sell-Off Extends

GBPUSD TECHS
Foreign Exchange Technical Analysismarkets-real-timeBulletMarketsForeign Exchange
  • RES 4: 1.3090/3147 High Apr 21 / High Apr 14
  • RES 3: 1.2974 Low Apr 13 and a recent breakout level
  • RES 2: 1.2772/2942 High Apr 26 / 20-day EMA
  • RES 1: 1.2602 High Apr 27
  • PRICE: 1.2434 @ 13:13 BST Apr 28
  • SUP 1: 1.2423 2.236 proj of the Mar 23 - Apr 13 - 14 price swing
  • SUP 2: 1.2375 2.382 proj of the Mar 23 - Apr 13 - 14 price swing
  • SUP 3: 1.2252 Low Jun 29 2020
  • SUP 4: 1.2162 Low May 22 2020

Bearish pressure in GBPUSD continues to dominate and the downtrend continues to accelerate. The pair has cleared 1.2974, Apr 13 low and 1.2676, last printed in September 2020. The trend remains oversold: the 14d RSI is now below 21 - the lowest point since March 2020 and the initial wave of lockdowns that followed COVID. A reversal pattern is still required to signal a base though. The focus is 1.2423 next, a Fibonacci projection.

156 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: 1.3090/3147 High Apr 21 / High Apr 14
  • RES 3: 1.2974 Low Apr 13 and a recent breakout level
  • RES 2: 1.2772/2942 High Apr 26 / 20-day EMA
  • RES 1: 1.2602 High Apr 27
  • PRICE: 1.2434 @ 13:13 BST Apr 28
  • SUP 1: 1.2423 2.236 proj of the Mar 23 - Apr 13 - 14 price swing
  • SUP 2: 1.2375 2.382 proj of the Mar 23 - Apr 13 - 14 price swing
  • SUP 3: 1.2252 Low Jun 29 2020
  • SUP 4: 1.2162 Low May 22 2020

Bearish pressure in GBPUSD continues to dominate and the downtrend continues to accelerate. The pair has cleared 1.2974, Apr 13 low and 1.2676, last printed in September 2020. The trend remains oversold: the 14d RSI is now below 21 - the lowest point since March 2020 and the initial wave of lockdowns that followed COVID. A reversal pattern is still required to signal a base though. The focus is 1.2423 next, a Fibonacci projection.