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Short-Term Supports Cleared

GBPUSD TECHS
  • RES 4: 1.3983/90 High Jul 30 / 61.8% of the Jun 1 - Jul 20 sell-off
  • RES 3: 1.3958 High Aug 4
  • RES 2: 1.3913 High Sep 14 and the intraday bull trigger
  • RES 1: 1.3799 20-day EMA
  • PRICE: 1.3660 @ 12:54 BST Sep 20
  • SUP 1: 1.3602 Low Aug 20
  • SUP 2: 1.3572 Low Jul 20 and the bear trigger
  • SUP 3: 1.3520 Low Jan 18
  • SUP 4: 1.3462 50.0% retracement of the Sep '20 - Jun rally

GBPUSD remains under pressure following today's bearish start to this week's session. The pair has traded below an important short-term support at 1.3727, Sep 8 low, signalling scope for an extension lower. This has also resulted in a break of 1.3680, Aug 27 low and signals scope for a deeper retracement towards the important 1.3602/3572 support zone. On the upside, initial resistance is seen at 1.3799, the 20-day EMA.

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