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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.
GBPUSD TECHS
- RES 4: 1.3142 High Jul 14 ‘23 and a key resistance
- RES 3: 1.3110 Bull channel top drawn from the Oct 4 ‘23 low
- RES 2: 1.2938/3044 High Jul 24 / 17 and the bull trigger
- RES 1: 1.2863 Intraday high
- PRICE: 1.2829@ 15:13 BST Aug 1
- SUP 1: 1.2752 Trendline support drawn from the Apr 22 low
- SUP 2: 1.2700 Round number support
- SUP 3: 1.2672 50.0 retracement of the Apr 22 - Jul 17 bull cycle
- SUP 4: 1.2613 Low Jun 27 and a key support
GBPUSD traded sharply lower earlier today, however, price has recovered from the session low. Note that support has been established just below the 50-day EMA - at 1.2792 - and a trendline at 1.2752, drawn from the Apr 22 low. A clear break of the EMA and the trendline, would suggest scope for an extension towards the 1.2700. Initial resistance to watch is at 1.2863, today’s intraday high.
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.
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