Free Trial

Resumes Its Uptrend

GBPUSD TECHS
  • RES 4: 1.3045 High Jul 19
  • RES 3: 1.2996 High Jul 27
  • RES 2: 1.2881 76.4% retracement of the Jul 14 - Oct 4 bear leg
  • RES 1: 1.2819 High Aug 10
  • PRICE: 1.2808 @ 06:19 GMT Dec 28
  • SUP 1: 1.2652 20-day EMA
  • SUP 2: 1.2612 Low Dec 21 and a key short-term support
  • SUP 3: 1.2543 50-day EMA
  • SUP 4: 1.2500 Low Dec 13

The trend outlook in GBPUSD remains bullish. The pair has breached resistance at 1.2794, the Dec 14 high and traded through 1.2800. This confirms a resumption of the uptrend and paves the way for a climb towards 1.2881, a Fibonacci retracement. Moving average studies are in a bull-mode position, highlighting an uptrend. On the downside, initial firm support has been defined at 1.2612, the Dec 21 low.

To read the full story

Close

Why MNI

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.