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Remains Below Resistance At The 50-Day EMA

GBPUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 1.2803 High Mar 21
  • RES 3: 1.2709 High Apr 09
  • RES 2: 1.2579 50-day EMA values
  • RES 1: 1.2570 High Apr 29
  • PRICE: 1.2505 @ 20:05 BST Apr 30
  • SUP 1: 1.2423/2300 Low Apr 24 / 22 and the bear trigger
  • SUP 2: 1.2266 Low Nov 14 ‘23
  • SUP 3: 1.2239 76.4% retracement of the Oct 4 - Mar 8 bull leg
  • SUP 4: 1.2187 Low Nov 10

The trend condition in GBPUSD remains bearish, however, a corrective cycle is in play for now and the recent recovery has allowed an oversold condition to unwind. Moving average studies remain in a bear-mode set-up and the recent break lower, maintains the downward price sequence of lower lows and lower highs. A resumption of the trend would open 1.2266, the Nov 14 2023 low. Resistance to watch is 1.2579, the 50-day EMA.

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  • RES 4: 1.2803 High Mar 21
  • RES 3: 1.2709 High Apr 09
  • RES 2: 1.2579 50-day EMA values
  • RES 1: 1.2570 High Apr 29
  • PRICE: 1.2505 @ 20:05 BST Apr 30
  • SUP 1: 1.2423/2300 Low Apr 24 / 22 and the bear trigger
  • SUP 2: 1.2266 Low Nov 14 ‘23
  • SUP 3: 1.2239 76.4% retracement of the Oct 4 - Mar 8 bull leg
  • SUP 4: 1.2187 Low Nov 10

The trend condition in GBPUSD remains bearish, however, a corrective cycle is in play for now and the recent recovery has allowed an oversold condition to unwind. Moving average studies remain in a bear-mode set-up and the recent break lower, maintains the downward price sequence of lower lows and lower highs. A resumption of the trend would open 1.2266, the Nov 14 2023 low. Resistance to watch is 1.2579, the 50-day EMA.