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UK DATA

UK Monthly GDP Rose As Schools Reopen

SILVER TECHS

Bulls Still In Charge

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  • RES 4: 1.4139 2.0% 10-dma envelope
  • RES 3: 1.4103 76.4% retracement of the Feb 24 - Apr 12 downleg
  • RES 2: 1.4009/17 High Apr 20 / High Mar 4
  • RES 1: 1.3950 High Apr 22
  • PRICE: 1.3920 @ 16:29 BST Apr 27
  • SUP 1: 1.3824 Low Apr 22 and key intraday support
  • SUP 2: 1.3717 Low Apr 16
  • SUP 3: 1.3670/69 Low Mar 25 / Low Apr 12 and key support
  • SUP 4: 1.3567 Low Apr 2

GBPUSD is unchanged. The pair traded lower last week following a failure at 1.4009, Apr 20 high. This pullback means that recent gains stalled at the former bull channel base drawn off the Nov 2, 2020 low. A break of 1.4009 is required to reinstate a bullish theme. This would open 1.4103, a Fibonacci retracement. Short-term support has been defined at 1.3824, Apr 22 low. The key bear trigger lies at 1.3669, Apr 12 low.