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Support Remains Exposed

GBPUSD TECHS
  • RES 4: 1.3142 High Jul 14 and the bull trigger
  • RES 3: 1.3045 High Jul 19
  • RES 2: 1.2887/2996 High Jul 28 / 27 and a key resistance
  • RES 1: 1.2771/2819 20-day EMA / High Aug 10 and a reversal trigger
  • PRICE: 1.2685 @ 05:59 BST Aug 15
  • SUP 1: 1.2617 Low Aug 14
  • SUP 2: 1.2591 Low Jun 29
  • SUP 3: 1.2480 1.50 projection of the Jul 14 - 24 - 27 price swing
  • SUP 4: 1.2439 1.618 projection of the Jul 14 - 24 - 27 price swing

A bearish theme in GBPUSD remains intact, with 1.2621 support, the Aug 3 low, giving way to a new pullback low on Monday. A clear break of 1.2621 would confirm a resumption of the current bear cycle and pave the way for weakness towards 1.2591, the Jun 29 low and the next important support. On the upside, key short-term resistance has been defined at 1.2819, the Aug 19 high. A break would signal a possible reversal.

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  • RES 4: 1.3142 High Jul 14 and the bull trigger
  • RES 3: 1.3045 High Jul 19
  • RES 2: 1.2887/2996 High Jul 28 / 27 and a key resistance
  • RES 1: 1.2771/2819 20-day EMA / High Aug 10 and a reversal trigger
  • PRICE: 1.2685 @ 05:59 BST Aug 15
  • SUP 1: 1.2617 Low Aug 14
  • SUP 2: 1.2591 Low Jun 29
  • SUP 3: 1.2480 1.50 projection of the Jul 14 - 24 - 27 price swing
  • SUP 4: 1.2439 1.618 projection of the Jul 14 - 24 - 27 price swing

A bearish theme in GBPUSD remains intact, with 1.2621 support, the Aug 3 low, giving way to a new pullback low on Monday. A clear break of 1.2621 would confirm a resumption of the current bear cycle and pave the way for weakness towards 1.2591, the Jun 29 low and the next important support. On the upside, key short-term resistance has been defined at 1.2819, the Aug 19 high. A break would signal a possible reversal.