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Triangle Base Tested

GBPUSD TECHS
  • RES 4: 1.3983/90 High Jul 30 / 61.8% of the Jun 1 - Jul 20 sell-off
  • RES 3: 1.3958 High Aug 4
  • RES 2: 1.3913 High Sep 14 and the intraday bull trigger
  • RES 1: 1.3773 20-day EMA
  • PRICE: 1.3619 @ 19:51 BST Sep 22
  • SUP 1: 1.3632/02 Triangle base drawn from Jul 20 low / Low Aug 20
  • SUP 2: 1.3572 Low Jul 20 and the bear trigger
  • SUP 3: 1.3520 Low Jan 18
  • SUP 4: 1.3462 50.0% retracement of the Sep '20 - Jun rally

GBPUSD remains vulnerable following recent weakness. The pair Monday traded below an important S/T support at 1.3727, Sep 8 low, and extended losses further Wednesday. This has also resulted in a break of 1.3680, Aug 27 low and opens the important 1.3602/3572 support zone. Note that there is a triangle base at 1.3632 that also represents an important support - which has been tested post-Fed. Resistance is at 1.3773.

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