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Awaiting Bank Indonesia Decision

JGBS

Holding Firmer

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  • RES 4: 1.4001 High Jun 23
  • RES 3: 1.3983/90 High Jul 30 / 61.8% of the Jun 1 - Jul 20 sell-off
  • RES 2: 1.3958 High Aug 4
  • RES 1: 1.3892 High Sep 3 and the bull trigger
  • PRICE: 1.3842 @ 15:52 BST Sep 13
  • SUP 1: 1.3798/27 20-day EMA / Low Sep 8 and key S/T support
  • SUP 2: 1.3680 Low Aug 27
  • SUP 3: 1.3602 Low Aug 20
  • SUP 4: 1.3572 Low Jul 20 and the bear trigger

GBPUSD traded flat into the Monday close. Last week's gains exposed resistance at 1.3892, Sep 3 high. The level remains intact though and a break is required to confirm a resumption of the recovery that started Aug 20. This would open 1.3958 next, Aug 4 high ahead of a key resistance at 1.3983, Jul 30 high. On the downside, 1.3727 marks initial key support, Sep 8 low. A break would instead signal a resumption of bearish pressure.