FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Testing Support At The 50-Day EMA

GBPUSD TECHS
  • RES 4: 1.2767 61.8% of the Jun 1 ‘21 - Sep 26 ‘22 downtrend
  • RES 3: 1.2680 High May 10 and the bull trigger
  • RES 2: 1.2547/2641 High May 16 / 11
  • RES 1: 1.2498 20-day EMA
  • PRICE: 1.2438 @ 15:53 BST May 19
  • SUP 1: 1.2392 Low May 18 and intraday low
  • SUP 2: 1.2353/45 Low Apr 17 / 10 and a key support
  • SUP 3: 1.2275 Low Apr 3
  • SUP 4: 1.2242 50.0% retracement of the Mar 8 - May 10 bull run

GBPUSD maintains a softer tone and is trading at its recent lows. Thursday’s move lower resulted in a test of the 50-day EMA which intersects at 1.2408. This average represents a key support and a clear break would strengthen current bearish conditions and expose 1.2345, the Apr 10 low. On the upside, initial firm resistance is seen at 1.2547, the May 16 high where a break is required to signal a possible reversal.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.