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Resistance Remains Exposed

GBPUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 1.2599 High Jun 7
  • RES 3: 1.2558 High Jub 9, 2022
  • RES 2: 1.2506 1.382 proj of the Sep 26 - Oct 5 - Oct 12 price swing
  • RES 1: 1.2448 High Jan 23 and the bull trigger
  • PRICE: 1.2386 @ 16:40 GMT Jan 27
  • SUP 1: 1.2264/59 Low Jan 24 / 20-day EMA
  • SUP 2: 1.2106 50-day EMA
  • SUP 3: 1.2000 Round number support
  • SUP 4: 1.1842 Low Jan 6 and the bear trigger

GBPUSD is largely unchanged and remains below its recent highs. Short-term weakness is considered corrective and the current uptrend remains intact - moving average studies are in a bull-mode position highlighting positive market sentiment. Price has recently pierced resistance at 1.2446, Dec 14 high. A clear break would resume the uptrend and open 1.2506, a Fibonacci projection. Initial firm support is 1.2259, the 20-day EMA.

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  • RES 4: 1.2599 High Jun 7
  • RES 3: 1.2558 High Jub 9, 2022
  • RES 2: 1.2506 1.382 proj of the Sep 26 - Oct 5 - Oct 12 price swing
  • RES 1: 1.2448 High Jan 23 and the bull trigger
  • PRICE: 1.2386 @ 16:40 GMT Jan 27
  • SUP 1: 1.2264/59 Low Jan 24 / 20-day EMA
  • SUP 2: 1.2106 50-day EMA
  • SUP 3: 1.2000 Round number support
  • SUP 4: 1.1842 Low Jan 6 and the bear trigger

GBPUSD is largely unchanged and remains below its recent highs. Short-term weakness is considered corrective and the current uptrend remains intact - moving average studies are in a bull-mode position highlighting positive market sentiment. Price has recently pierced resistance at 1.2446, Dec 14 high. A clear break would resume the uptrend and open 1.2506, a Fibonacci projection. Initial firm support is 1.2259, the 20-day EMA.