TRUDEAU SAYS TARIFFS WILL BE PAUSED FOR AT LEAST 30 DAYS

MNI BRIEF: US Treasury Lowers Q1 Borrowing Estimate By $9B

MNI BRIEF: Fed's Bostic In Wait And See Mode On Rates

MNI BRIEF: Fed's Collins Expects Tariffs To Raise Prices

MNI BRIEF: Fed's Goolsbee Supports Slowing Rate Cuts

MNI BRIEF: US Dec Core PCE Inflation In Line With Expectations

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium, ESM Auction on Tuesday

MNI: US DEC CONSTRUCT SPENDING +0.5%

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

GBPUSD TECHS: Pierces The 20-Day EMA

GBPUSD TECHS
USForeign Exchange Technical AnalysisCEEMEABulletUKMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.2607 High Dec 30
  • RES 3: 1.2529 50-day EMA     
  • RES 2: 1.2494 High Jan 8 
  • RES 1: 1.2364/76 20-day EMA / High Jan 22
  • PRICE: 1.2316 @ 06:14 GMT Jan 23
  • SUP 1: 1.2100 Low Jan 10 and the bear trigger 
  • SUP 2: 1.2087 0.764 proj of the Sep 26 - Nov 22 - Dec 6 price swing
  • SUP 3: 1.2037 Low Oct 4 ‘23 and a key support 
  • SUP 4: 1.2000 Psychological round number      

A short-term bullish corrective cycle in GBPUSD remains in play, for now. Initial firm resistance to watch is 1.2364, the 20-day EMA. The average was pierced on Wednesday, a clear break of it would highlight a stronger corrective phase and signal scope for an extension, possibly towards the 50-day EMA, at 1.2529. The bear trigger has been defined at 1.2100, the Jan 10 low. Clearance of this support would resume the downtrend.

145 words

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.
  • RES 4: 1.2607 High Dec 30
  • RES 3: 1.2529 50-day EMA     
  • RES 2: 1.2494 High Jan 8 
  • RES 1: 1.2364/76 20-day EMA / High Jan 22
  • PRICE: 1.2316 @ 06:14 GMT Jan 23
  • SUP 1: 1.2100 Low Jan 10 and the bear trigger 
  • SUP 2: 1.2087 0.764 proj of the Sep 26 - Nov 22 - Dec 6 price swing
  • SUP 3: 1.2037 Low Oct 4 ‘23 and a key support 
  • SUP 4: 1.2000 Psychological round number      

A short-term bullish corrective cycle in GBPUSD remains in play, for now. Initial firm resistance to watch is 1.2364, the 20-day EMA. The average was pierced on Wednesday, a clear break of it would highlight a stronger corrective phase and signal scope for an extension, possibly towards the 50-day EMA, at 1.2529. The bear trigger has been defined at 1.2100, the Jan 10 low. Clearance of this support would resume the downtrend.