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Starting The Week On A Firmer Note

GBPUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 1.2506 1.382 proj of the Sep 26 - Oct 5 - Oct 12 price swing
  • RES 3: 1.2446 High Dec 14 and the bull trigger
  • RES 2: 1.2242/2303 High Dec 19 / 76.4% of Dec 14 - Jan 6 bear leg
  • RES 1: 1.2210 High Jan 9
  • PRICE: 1.2194 @ 15:56 GMT Jan 9
  • SUP 1: 1.2059 20-day EMA
  • SUP 2: 1.1957/11 50-day EMA / 1.0% 10-dma envelope
  • SUP 3: 1.1842 Low Jan 6 and the bear trigger
  • SUP 4: 1.1779 Low Nov 21

GBPUSD traded higher Monday, adding to Friday’s strong bounce. The recovery from Friday’s low of 1.1842 highlights a potential reversal and if correct, signals the end of the recent bear cycle that started on Dec 14. Moving average studies remain in a bull-mode position and this suggests that a medium-term uptrend remains intact. Sights are on 1.2242 next, the Dec 19 high. Key support has been defined at 1.1842.

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  • RES 4: 1.2506 1.382 proj of the Sep 26 - Oct 5 - Oct 12 price swing
  • RES 3: 1.2446 High Dec 14 and the bull trigger
  • RES 2: 1.2242/2303 High Dec 19 / 76.4% of Dec 14 - Jan 6 bear leg
  • RES 1: 1.2210 High Jan 9
  • PRICE: 1.2194 @ 15:56 GMT Jan 9
  • SUP 1: 1.2059 20-day EMA
  • SUP 2: 1.1957/11 50-day EMA / 1.0% 10-dma envelope
  • SUP 3: 1.1842 Low Jan 6 and the bear trigger
  • SUP 4: 1.1779 Low Nov 21

GBPUSD traded higher Monday, adding to Friday’s strong bounce. The recovery from Friday’s low of 1.1842 highlights a potential reversal and if correct, signals the end of the recent bear cycle that started on Dec 14. Moving average studies remain in a bull-mode position and this suggests that a medium-term uptrend remains intact. Sights are on 1.2242 next, the Dec 19 high. Key support has been defined at 1.1842.