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Pulls Back From Key Resistance

GBPUSD TECHS
  • RES 4: 1.3804 High Apr 30, 2018
  • RES 3: 1.3773 High May 1, 2018
  • RES 2: 1.3750 0.764 proj of May 18 - Sep 1 rally from Sep 23 low
  • RES 1: 1.3710/12 Jan 14 high / Low Mar 1, 2018
  • PRICE: 1.3577 @ 16:32 GMT Jan 18
  • SUP 1: 1.3520 Low Jan 18
  • SUP 2: 1.3505 Low Jan 12
  • SUP 3: 1.3452 Low Jan 11 and key near-term support
  • SUP 4: 1.3430 Low Dec 28

GBPUSD fell further Monday, slipping through the Friday lows to expose 1.3505. A show below this level opens key near-term support at 1.3452. To the upside, a clear breach of 1.3710/12 would confirm a resumption of the current uptrend and open 1.3773, the May 1, 2018 high. Price continues to fluctuate around the 1.3564 20-day EMA.

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