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Key Short-Term Support Defined At 1.0350

GBPUSD TECHS
  • RES 4: 1.1465 20-day EMA
  • RES 3: 1.1274 High Sep 23
  • RES 2: 1.1000 Round number resistance
  • RES 1: 1.0931 Intraday high
  • PRICE: 1.0818 @ 15:15 BST Sep 26
  • SUP 1: 1.0350 Intraday low
  • SUP 2: 1.0203 3.236 proj of the Jun 16 - Jul 14 - Aug 1 price swing
  • SUP 3: 1.0108 3.382 proj of the Jun 16 - Jul 14 - Aug 1 price swing
  • SUP 4: 1.0032 3.50 proj of the Jun 16 - Jul 14 - Aug 1 price swing

Bearish trend conditions in GBPUSD remain intact. Today’s volatile price activity has highlighted an important short-term support at 1.0350. The trend remains down and a break of this support would confirm a resumption of the trend. Today’s close however could be important - if closer to the top of today’s range, it would potentially highlight a short-term base and signal scope for a correction and an unwinding of the oversold trend condition.

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  • RES 4: 1.1465 20-day EMA
  • RES 3: 1.1274 High Sep 23
  • RES 2: 1.1000 Round number resistance
  • RES 1: 1.0931 Intraday high
  • PRICE: 1.0818 @ 15:15 BST Sep 26
  • SUP 1: 1.0350 Intraday low
  • SUP 2: 1.0203 3.236 proj of the Jun 16 - Jul 14 - Aug 1 price swing
  • SUP 3: 1.0108 3.382 proj of the Jun 16 - Jul 14 - Aug 1 price swing
  • SUP 4: 1.0032 3.50 proj of the Jun 16 - Jul 14 - Aug 1 price swing

Bearish trend conditions in GBPUSD remain intact. Today’s volatile price activity has highlighted an important short-term support at 1.0350. The trend remains down and a break of this support would confirm a resumption of the trend. Today’s close however could be important - if closer to the top of today’s range, it would potentially highlight a short-term base and signal scope for a correction and an unwinding of the oversold trend condition.