Free Trial

Maintains A Bullish Tone

GBPUSD TECHS
  • RES 4: 1.1783 High Aug 29
  • RES 3: 1.1738 High Sep 13 and a key resistance
  • RES 2: 1.1572 50-day EMA
  • RES 1: 1.1489 High Oct 4
  • PRICE: 1.1448@ 06:28 BST Oct 5
  • SUP 1: 1.1287/1025 20-day EMA / Low Sep 30
  • SUP 2: 1.0763 Low Sep 29
  • SUP 3: 1.0541/0350 Low Sep 28 / All Time Low
  • SUP 4: 1.0203 3.236 proj of the Jun 16 - Jul 14 - Aug 1 price swing

GBPUSD traded higher again Tuesday and maintains this week’s bullish tone, as it extends the latest recovery from 1.0350, Sep 26 low. The pair has cleared resistance at the 20-day EMA and this signals scope for a continuation higher near-term. Potential is seen for a climb towards the 50-day EMA at 1.1572 - a key resistance. Initial firm support is seen at 1.1025, the Sep 30 low.

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.