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Daily Technical Analysis


Current level – 1.1696

After the unsuccessful attempt of the currency pair to breach the support zone at 1.1700 at the beginning of the week, followed by a corrective move towards the resistance zone at 1.1752, we are observing another attempt to break the mentioned support during today’s session. This time the bears managed to gain enough momentum trading below 1.1700, but the breakthrough still needs confirmation. With the deepening of the sell-off the first significant support lies at 1.1600. The sentiment for the time being is rather negative, where the announcement of the initial jobless claims data for the US (today; 12:30 GMT) could cause an increase in the volatility of the currency pair.

Resistance Support
intraday intraweek intraday intraweek
1.1699 1.1752 1.1600 1.1450
1.1724 1.1782 1.1600 1.1300


Current level – 109.87

We witnessed a second unsuccessful attempt for a breach of the support zone at 109.23, followed by a recovery during the last trading session. At the time of writing, the currency pair is trading just above the support at 109.69 – a level that recently we have considered as a first significant resistance. This movement could restore the range move in the narrow channel between 109.23 – 110.20.

Resistance Support
intraday intraweek intraday intraweek
110.00 110.20 109.69 108.80
110.20 111.40 109.23 108.80


Current level – 1.3624

The pound has continued to lose ground against the US dollar since the beginning of last week. The bears managed to gain enough momentum to prevail in the market, and at the time of writing, the currency pair is trading just above the main support at 1.3600. A successful breach of the mentioned zone could drastically increase the sell-off and could lead to a test of the next significant levels of the larger time frames at 1.3500, followed by 1.3200. Today, investors’ attention will be focused on the announcement of the Bank of England interest rate decision (11:00 GMT) when increased volatility is expected.

Resistance Support
intraday intraweek intraday intraweek
1.3641 1.3756 1.3600 1.3450
13692 1.3804 1.3500 1.3200

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These analyses are for information purposes only. They DO NOT post a BUY or SELL recommendation for any of the financial instruments herein analyzed. The information is obtained from generally accessible data sources. The forecasts made are based on technical analysis. However, Delta Stock’s Analyst Dept. also takes into consideration a number of fundamental and macroeconomic factors, which we believe impact the price moves of the observed instruments. Delta Stock Inc. assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon the information on this page. Delta Stock Inc. shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses or unrealized gains that may result. Any information is subject to change without notice.

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