Free Trial

Key Support Buckles

GBPUSD TECHS
  • RES 4: 1.4074 Low Jun 10
  • RES 3: 1.4001 High Jun 23 and key resistance
  • RES 2: 1.3849/3917 20-day EMA / 50-day EMA
  • RES 1: 1.3723/90 Low Jul 2 / High Jul 19
  • PRICE: 1.3669 @ 05:44 BST Jul 20
  • SUP 1: 1.3655 Low Jul 19
  • SUP 2: 1.3579 23.6% Mar'20 - Jun'21 Rally
  • SUP 3: 1.3567 Low Apr 2
  • SUP 4: 1.3520 Low Jan 18

GBPUSD traded sharply lower Monday, taking out key support at 1.3669, Apr 12 low as well as the 200-dma at 1.3700. The outlook remains bearish with moving average studies pointing south. A clear breach of 1.3669 would reinforce bearish conditions and pave the way for an extension of the bear cycle. This would open 1.3579, a Fibonacci retracement. On the upside, firm resistance is at yesterday's 1.3790 high.

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.