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Price Signal Summary - GBPUSD Trend Needle Points North

OUTLOOK
  • In FX, EURUSD is trading closer to its recent lows. The recent pullback looks corrective in nature, with prices remaining above the trendline - at 1.0885 today - drawn off the Nov 1 low. Note too that moving average studies are in a bull mode position, highlighting an uptrend. Support to watch is 1.0877, Friday’s low. The bull trigger is 1.1139, the Dec 28 high.
  • The trend outlook in GBPUSD remains bullish and the pair is trading closer to its recent trend highs. Attention is on 1.2827, the Dec 28 high and bull trigger. Clearance of this level would confirm a resumption of the uptrend and pave the way for a climb towards 1.2881, 76.4% of the Jul 14 - Oct 4 bear leg. Initial firm support lies at 1.2611, Jan 2 low. The 50-day EMA lies just below at 1.2580. A break of this support zone would undermine the bullish theme.
  • USDJPY has started off today’s session on a slightly softer note. The move lower from Friday’s high means that resistance around the 50-day EMA - at 145.32 - is intact for now. The trend outlook remains bearish and recent gains appear to be a correction. A continuation lower would refocus attention on 140.25, the Dec 28 low. On the upside, resistance to watch is 145.97, Friday’s high. A break would be a bullish development.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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