Free Trial

Trades Below 1.2000

GBPUSD TECHS
  • RES 4: 1.2613 50-day EMA
  • RES 3: 1.2599 High Jun 7
  • RES 2: 1.2434 20-day EMA
  • RES 1: 1.2208/2332 High Jun 14 / High Jun 13
  • PRICE: 1.2001 @ 06:10 BST Jun 15
  • SUP 1: 1.1934 Low Jun 14 and High Mar 20 2020
  • SUP 2: 1.1795 0.764 proj of the Mar 23 - May 13 - 27 price swing
  • SUP 3: 1.1777 Low Mar 26 2020
  • SUP 4: 1.1640 Low Mar 25 2020

GBPUSD is bearish. Losses have accelerated this week and resulted in a breach of the bear trigger at 1.2156, May 13 low. The break lower confirms a resumption of the primary downtrend and potential is seen for an extension below the 1.2000 handle, to retest 1.1934, the Mar 20 2020 high and yesterday’s low. Moving average studies are in a bear mode, highlighting current sentiment. Firm resistance is seen at 1.2434, the 20-day EMA.

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.