Free Trial

Tops Resistance

GBPUSD TECHS
  • RES 4: 1.2533 2.0% 10-dma envelope
  • RES 3: 1.2507 3.0% Upper Bollinger Band
  • RES 2: 1.2506 High Sep 14
  • RES 1: 1.2480 High Nov 14
  • PRICE: 1.2472 @ 16:27 GMT Nov 14
  • SUP 1: 1.2266/2185 Intraday low / Low Nov 3
  • SUP 2: 1.2070 Low Oct 26
  • SUP 3: 1.2037/28 Low Oct 04 and bear trigger / Low Mar 16
  • SUP 4: 1.2011 Low Mar 15 and a key support

The bull cycle in GBPUSD firmed sharply Tuesday, extending the recovery from last Friday’s low. The move higher reinforces the S/T importance of a doji candle on Friday - a bullish reversal signal. Resistance at 1.2428, Nov 6 high and the bull trigger, was cleared, opening the Sep 14 high of 1.2506. Support to watch is 1.2185, the Nov 3 low.

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.