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Volatile

GBPUSD TECHS
  • RES 4: 1.3547 1.382 proj of Sep 23 - Oct 21 rally from Nov 2 low
  • RES 3: 1.3539 High Dec 4
  • RES 2: 1.3512 1.0% 10-dma envelope
  • RES 1: 1.3437 High Dec 7
  • PRICE: 1.3360 @ 05:55 GMT Dec 8
  • SUP 1: 1.3225 Low Dec 7
  • SUP 2: 1.3196 Low Nov 19 and key near-term support
  • SUP 3: 1.3171 50-day EMA
  • SUP 4: 1.3106 Low Nov 12

GBPUSD remains volatile and traded sharply lower Monday before finding support at 1.3225.. The pair yesterday cleared support at 1.3288, Dec 2 low and also traded through the 20-day EMA. Further weakness would expose 1.3196, Nov 19 low and 1.3171 the 50-day EMA. Cable needs to regain Monday's intraday high of 1.3437 to offset the bearish threat. This would refocus attention on Friday's 1.3539 high and the bull trigger.

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