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Free AccessTrend Needle Still Points North
- RES 4: 1.2720 2.0% 10-dma envelope
- RES 3: 1.2667 High May 27 2022
- RES 2: 1.2599 High Jun 7 2022
- RES 1: 1.2584 High Apr 28 and May 1
- PRICE: 1.2530 @ 16:03 BST May 3
- SUP 1: 1.2438 20-day EMA
- SUP 2: 1.2353/45 Low Apr 17 / 10
- SUP 3: 1.2329 50-day EMA
- SUP 4: 1.2275 Low Apr 3
The trend outlook in GBPUSD is unchanged and remains bullish. Last Friday’s gains reinforced this theme - the pair traded higher to breach resistance at 1.2546, the Apr 14 high and bull trigger. This also confirmed a resumption of the uptrend and has opened 1.2599, the Jun 7 2022 high. Support to watch is at the 20-day EMA, at 1.2438. A clear break of it is required to suggest scope for a deeper correction.
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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.