Free Trial

The 50-Day EMA Marks Key Resistance

  • RES 4: 1.3492 76.4% retracement of the Feb 10 - Mar 15 downleg
  • RES 3: 1.3439 High Feb 25
  • RES 2: 1.3337 50-day EMA
  • RES 1: 1.3298 High Mar 23
  • PRICE: 1.3214 @ 06:22 GMT Mar 25
  • SUP 1: 1.3120/3000 Low Mar 22 / Low Mar 15 and the bear trigger
  • SUP 2: 1.2954 1.764 proj of the Jan 13 - 27 - Feb 10 price swing
  • SUP 3: 1.2933 Low Nov 5 2020
  • SUP 4: 1.2855 Low Nov 2 2020 and a key support

GBPUSD remains below Wednesday’s high of 1.3298. This week’s break of the 20-day EMA and the 1.0% 10-dma envelope (at 1.3257) was seen as a positive development however, a key resistance at 1.3337, the 50-day EMA, remains intact. Clearance of this average is required to further strengthen short-term bullish conditions. On the downside, watch support at 1.3120, Tuesday’s low. A break would suggest scope for a deeper pullback.

To read the full story

Why Subscribe to


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.