Free Trial

Outlook Remains Fragile

  • RES 4: 1.3698 High Nov 4
  • RES 3: 1.3607 High Nov 9
  • RES 2: 1.3514 High Nov 18 and a key resistance
  • RES 1: 1.3338/70 20-day EMA / High Nov 30
  • PRICE: 1.3222 @ 05:56 GMT Dec 10
  • SUP 1: 1.3163 Low Dec 08
  • SUP 2: 1.3138 1.0% 10-dma envelope
  • SUP 3: 1.3135 Low Dec 11 2020
  • SUP 4: 1.3083 3.0% Lower Bollinger Band

The GBPUSD outlook remains fragile after touching fresh YTD lows Wednesday at 1.3163. The move lower cements the downside risk and confirms a resumption of the downtrend. The focus is on a vol-band support at 1.3138 ahead of the Dec 11 2020 lows of 1.3135. Moving average conditions remain in bear mode, highlighting the current trend direction. Resistance to watch is at 1.3338, the 20-day EMA.

To read the full story



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.