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Volatile Ahead Of Support

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 and key resistance
  • RES 2: 1.3508 1.0% 10-dma envelope
  • RES 1: 1.3478 High Dec 9
  • PRICE: 1.3309 @ 05:32 GMT Dec 11
  • SUP 1: 1.3246 Low Dec 10
  • SUP 2: 1.3225 Low Dec 7 and key near-term support
  • SUP 3: 1.3196 Low Nov 19
  • SUP 4: 1.3191 50-day EMA

GBPUSD traded weaker Thursday and conditions remain volatile. A bearish threat is also still present following the recent sell-off from 1.3539, Dec 4 high. Further weakness would expose 1.3196, Nov 19 low and 1.3191 the 50-day EMA. Cable did however trade above Monday's high of 1.3437 Wednesday, partially offsetting a bearish threat. Clearance of 1.3539, Dec 4 high is required to reinstate bullish conditions. Volatile.

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