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Resumes Its Uptrend

GBPUSD TECHS
  • RES 4: 1.2687 2.0% 10-dma envelope
  • RES 3: 1.2667 High May 27 2022
  • RES 2: 1.2599 High Jun 7 2022
  • RES 1: 1.2546 High Apr 14
  • PRICE: 1.2436 @ 15:55 BST Apr 14
  • SUP 1: 1.2432/1.2399 Low Apr 14 / 12
  • SUP 2: 1.2357 20-day EMA
  • SUP 3: 1.2275 Low Apr 3
  • SUP 4: 1.2239 50-day EMA

GBPUSD maintained the week’s bulls cycle, touching 1.2546 before fading on a rebounding dollar. The pair has traded through the recent high of 1.2525 (Apr 4) to confirm a resumption of the current uptrend and this reinforces the bullish significance of the recent breach of 1.2448, the Jan 23 high and the top of a broad 3.5 months range. The focus is on 1.2599, the Jun 7 2022 high. Key short-term support is at 1.2357, 20-day EMA.

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