Free Trial

Key Resistance Remains Exposed

GBPUSD TECHS
  • RES 4: 1.4412 2.0% 10-dma envelope
  • RES 3: 1.4315 High Apr 18, 2018
  • RES 2: 1.4237 High Feb 24 and a key resistance
  • RES 1: 1.4234 High May 21
  • PRICE: 1.4169 @ 06:11 BST May 26
  • SUP 1: 1.4100 Low May 19
  • SUP 2: 1.4006/3972 Low May 13 / Low May 10
  • SUP 3: 1.3955 50-day EMA
  • SUP 4: 1.3858 Low May 6

GBPUSD is unchanged and continues to consolidate. The outlook remains bullish. Sights are on 1.4237, Feb 24 high and the bull trigger. A break would reinforce a bullish case and importantly confirm a resumption of the broader uptrend that started March 2020. On the downside, initial firm support is unchanged at 1.4006, May 13 low where a break would suggest scope for a deeper corrective pullback.

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.