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Remains Under Pressure

GBPUSD TECHS
  • RES 4: 1.4315 High Apr 18, 2018
  • RES 3: 1.4203/48 High Jun 3 / High Jun 1 and the bull trigger
  • RES 2: 1.4133 High Jun 16
  • RES 1: 1.4035 50-day EMA
  • PRICE: 1.3902 @ 06:10 BST Jun 18
  • SUP 1: 1.3896 Low Jun 17
  • SUP 2: 1.3858 Low May 6
  • SUP 3: 1.3801 Low May 3 and a key support
  • SUP 4: 1.3717 Low Apr 16

GBPUSD remains weak following sharp losses Wednesday and Thursday. This week's price action has resulted in a break of the 50-day EMA and 1.4006, low May 13 and a recent key support. Price has also cleared the 100-DMA. Scope is seen for an extension lower towards 1.3858 next, May 6 low and 1.3801, May 3low. On the upside, initial resistance is seen at 1.4035, the 50-day EMA.

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