Free Trial

Trading Below Recent Highs

GBPUSD TECHS
  • RES 4: 1.3804 High Apr 30, 2018
  • RES 3: 1.3773 High May 1, 2018
  • RES 2: 1.3750 0.764 proj of May 18 - Sep 1 rally from Sep 23 low
  • RES 1: 1.3710/12 Jan 14 high / Low Mar 1, 2018
  • PRICE: 1.3624 @ 17:39 GMT Jan 19
  • SUP 1: 1.3520 Low Jan 18
  • SUP 2: 1.3505 Low Jan 12
  • SUP 3: 1.3452 Low Jan 11 and key near-term support
  • SUP 4: 1.3430 Low Dec 28

GBPUSD dipped lower Monday, slipping through the Friday lows to expose 1.3505. A breach of this level would signal scope for a deeper short-term sell-off and expose the key near-term support at 1.3452, Jan 11 low. From a trend perspective, the outlook remains bullish, with the pair bouncing Tuesday. A clear breach of 1.3710/12 would confirm a resumption of the current uptrend and open 1.3773, the May 1, 2018 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.