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Maintains A Softer Tone

GBPUSD TECHS
  • RES 4: 1.3355 High Mar 4
  • RES 3: 1.3298 High Mar 23 and a key resistance
  • RES 2: 1.3209 50-day EMA
  • RES 1: 1.3097/3147 20-day EMA / High Apr 14
  • PRICE: 1.2999 @ 15:39 BST Apr 19
  • SUP 1: 1.2974 Low Apr 13 and the bear trigger
  • SUP 2: 1.2954 1.764 proj of the Jan 13 - 27 - Feb 10 price swing
  • SUP 3: 1.2933 Low Nov 5 2020
  • SUP 4: 1.2855 Low Nov 2 2020 and a key support

GBPUSD traded softer Tuesday, extending the pullback from its recent high of 1.3147, the Apr 14 high. The pullback means the pair has failed to remain above the 20-day EMA - a bearish development. The primary trend remains down and a break of 1.2974, Apr 13 low, would end the recent corrective cycle and confirm a resumption of the downtrend. This would open 1.2933, the Nov 5 2020 low. Key short-term resistance is at 1.3147.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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