Free Trial

Trend Needle Points North

GBPUSD TECHS
  • RES 4: 1.2908 1.382 proj of the Apr 22 - May 3 - 9 price swing
  • RES 3: 1.2894 High Mar 8 and a key resistance
  • RES 2: 1.2859 1.236 proj of the Apr 22 - May 3 - 9 price swing
  • RES 1: 1.2817 High June 4
  • PRICE: 1.2770 @ 16:29 BST Jun 5
  • SUP 1: 1.2693/1.2639 20- and 50-day EMA values
  • SUP 2: 1.2584 Low May 15
  • SUP 3: 1.2510 Low May 14
  • SUP 4: 1.2446 Low May 9 and a key near-term support

The trend condition in GBPUSD remains bullish. This week’s fresh cycle highs and print above 1.2801, the May 29 high, confirms a resumption of the uptrend and an extension of the rising price sequence of higher highs and higher lows. Moving average studies are in a bull-mode position, reinforcing current trend conditions. Sights are on 1.2859, a Fibonacci projection. Initial support to watch is 1.2693, 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.