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Price Signal Summary - GBPUSD Trend Needle Points North

OUTLOOK
  • In FX, EURUSD maintains a firmer tone. Price has breached resistance at 1.0930, the Mar 23 high. This level marked a key short-term hurdle for bulls and the clear break reinstates the recent bull theme and opens 1.1033, the Feb 2 high. On the downside, support to watch lies at 1.0791 (20-day EMA) and 1.0723 (50-day EMA). A move through this support zone would be bearish.
  • GBPUSD traded higher Tuesday. The pair breached a key resistance at 1.2448, the Jan 23 high and the top of a broad range, price has been trading inside since mid-December last year. The breach represents an important short and medium-term break and signals the next stage of the uptrend that started on Sep 26 last year. The focus is on a climb towards 1.2584 next, the top of a MA envelope study. Support to watch lies at 1.2260, the 20-day EMA. The trend direction in
  • USDJPY remains down and this week’s move lower reinforces this theme. Resistance at the 50-day EMA has been tested, it intersects at 133.24 and represents a key short-term hurdle for bulls. A clear break would alter the picture and suggest scope for a stronger recovery. This would open 134.75, 61.8% of the Mar 8 - 24 bear leg. The bear trigger is at 129.64, Mar 24 low. A break would resume the downtrend.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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