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Takes Out 20-, 50-Day EMAs


Weak Global PMIs


Pierces 50-Day EMA


Eurodollar/SOFR, Tsy Option Roundup

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Trades To A Fresh 2020 High

  • RES 4: 1.3677 76.4% retracement of the 2018 - 2020 Selloff
  • RES 3: 1.3514 High Dec 13, 2019
  • RES 2: 1.3435 2.0% 10-dma envelope
  • RES 1: 1.3356 High Aug 28
  • PRICE: 1.3343 @ 17:33 BST Aug 28
  • SUP 1: 1.3117 Low Aug 26
  • SUP 2: 1.3054 Low Aug 24 and the bear trigger
  • SUP 3: 1.3005 Low Aug 12
  • SUP 4: 1.2982 Low Aug 4 and a key support

GBPUSD is pushing higher and confirmed a new 2020 highs having topped 1.3284. Clearance of the former bull trigger at 1.3267, Aug 19 high has strengthened the upside argument. Additional follow through Friday saw prices take out 1.3312, a Fibonacci projection, opening vol band resistance at 1.3435. On the downside, 1.3054 marks the key near-term support, Aug 24 low.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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