Free Trial

Resistance Seen At The 20-Day EMA

  • RES 4: 1.3376 50-day EMA
  • RES 3: 1.3358 Low Jan 27
  • RES 2: 1.3240 20-day EMA
  • RES 1: 1.3211 High Mar 17
  • PRICE: 1.3190 @ 17:06 GMT Mar 18
  • SUP 1: 1.3088/3000 Low Mar 17 / Low Mar 15 and the bear trigger
  • SUP 2: 1.2954 1.764 proj of the Jan 13 - 27 - Feb 10 price swing
  • SUP 3: 1.2933/2892 Low Nov 5 2020 / 2.0% Lower Bollinger Band
  • SUP 4: 1.2855 Low Nov 2 2020 and a key support

GBPUSD traded higher Thursday. The trend outlook is bearish and short-term gains are still considered corrective. A bearish theme follows the recent break of 1.3163, the Dec 12 low, that confirmed a resumption of the broader downtrend. Furthermore, moving average studies remain in a bear mode, reinforcing the current condition. The bear trigger is 1.3000, Mar 15 low. Resistance to watch is at 1.3240, the 20-day EMA.

MNI London Bureau | +44 203-865-3809 |

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.