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Support Appears Exposed

GBPUSD TECHS
  • RES 4: 1.1799 0.764 proj of the Sep 26 - Oct 5 - 12 price swing
  • RES 3: 1.1738/87 High Sep 13 / 3.0% 10-dma envelope
  • RES 2: 1.1566/1645 High Oct 27 / High Nov 1
  • RES 1: 1.1356 20-day EMA
  • PRICE: 1.1213 @ 06:01 GMT Nov 4
  • SUP 1: 1.1150 Intraday low
  • SUP 2: 1.1061 Low Oct 21
  • SUP 3: 1.0924 Low Oct 12 and a key short-term support
  • SUP 4: 1.0763 Low Sep 29

GBPUSD traded lower Thursday, extending the pullback from 1.1645, the Nov 1 high and a key short-term resistance. Price has traded below both the 20- and 50-day EMAs and Thursday’s extension lower has exposed 1.1061, the Oct 21 low. The next key support lies at 1.0924, the Oct 12 low, where a break would strengthen a developing bearish threat. For bulls, a reversal higher and a break of 1.1645, is required to reinstate the recent bull cycle.

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  • RES 4: 1.1799 0.764 proj of the Sep 26 - Oct 5 - 12 price swing
  • RES 3: 1.1738/87 High Sep 13 / 3.0% 10-dma envelope
  • RES 2: 1.1566/1645 High Oct 27 / High Nov 1
  • RES 1: 1.1356 20-day EMA
  • PRICE: 1.1213 @ 06:01 GMT Nov 4
  • SUP 1: 1.1150 Intraday low
  • SUP 2: 1.1061 Low Oct 21
  • SUP 3: 1.0924 Low Oct 12 and a key short-term support
  • SUP 4: 1.0763 Low Sep 29

GBPUSD traded lower Thursday, extending the pullback from 1.1645, the Nov 1 high and a key short-term resistance. Price has traded below both the 20- and 50-day EMAs and Thursday’s extension lower has exposed 1.1061, the Oct 21 low. The next key support lies at 1.0924, the Oct 12 low, where a break would strengthen a developing bearish threat. For bulls, a reversal higher and a break of 1.1645, is required to reinstate the recent bull cycle.