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Through Bull Trigger

GBPUSD TECHS
  • RES 4: 1.2207/2317 200-dma / 4.0% 10-dma envelope
  • RES 3: 1.2143/94 High Aug 17
  • RES 2: 1.2098 2.0% 10-dma Envelope
  • RES 1: 1.2081/80 High Nov 23 / Aug 18
  • PRICE: 1.2054 @ 15:40 GMT Nov 23
  • SUP 1: 1.1764/1660 Low Nov 17 / 20-day EMA
  • SUP 2: 1.1557 50-day EMA
  • SUP 3: 1.1334/1150 Low Nov 09 / Nov 04 and a bear trigger
  • SUP 4: 1.1061 Low Oct 21

GBPUSD traded sharply higher into the Wednesday close, tripping the bull trigger to keep the trend condition bullish. 1.2028 was topped, putting the pair at the best levels since August. Despite the day’s gains however, short-term signals still highlight an overbought condition. Any retracement in the meantime would highlight a corrective phase. Firm support is at 1.1557, the 50-day EMA.

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