Free Trial

Northbound

GBPUSD TECHS
  • RES 4: 1.3983 High Jul 30
  • RES 3: 1.3958 High Aug 4
  • RES 2: 1.3913 High Sep 14 and a key resistance
  • RES 1: 1.3854 High Sep 15
  • PRICE: 1.3805 @ 15:38 BST Oct 20
  • SUP 1: 1.3709/3670 Low Oct 18 / 20-day EMA
  • SUP 2: 1.3544/3412 Low Oct 6 / Low Sep 29 and the bear trigger
  • SUP 3: 1.3387 2.0% 10-dma envelope
  • SUP 4: 1.3354 Low Dec 23, 2020

GBPUSD traded firmer Tuesday extending the rally that started late September. Early Wednesday trade was more negative, but the pair recouped losses to finish broadly flat. The pair has moved above the 50-day EMA and Tuesday's technical break was a breach of 1.3795, 76.4% of the Sep 14 -29 downleg. The break higher opens 1.3913, Sep 14 high. On the downside, a firm short-term support has been defined at 1.3544, Oct 6 low. Initial support is at 1.3709/3670.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.