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TECHS: Resistance Remains Intact

GBP

Sterling is softer following today’s BOE announcement. From a technical perspective, key short-term GBP resistance levels remain intact, which suggests the trend is still down.

  • GBPUSD key near-term resistance is at 1.3250, the 20-day EMA. Recent gains are considered corrective with the bear trigger at 1.30, Tuesday’s low.
    • A break of 1.3250 resistance is required to suggest potential for a stronger bounce.
  • EURGBP support levels to watch are; 0.7224, the 20-day EMA and below this at 0.8317, the Mar 9 low. Short-term conditions remain bullish and potential is for a climb towards 0.8478, the Feb 7 high.
    • A break lower through support would alter the picture.
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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