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GBPUSD TECHS: Resistance Remains Intact

Mar-18 06:25
  • RES 4: 1.3712 High Feb 11     
  • RES 3: 1.3662 High Feb 16  
  • RES 2: 1.3575 High Feb 26 and a key S/T resistance 
  • RES 1: 1.3416/62 20- and 50-day EMA values 
  • PRICE: 1.3374 @ 06:24 GMT Mar 18
  • SUP 1: 1.3219 Low Mar 13
  • SUP 2: 1.3212 76.4% retracement of the Nov 4 ‘25 - Jan 27 bull cycle
  • SUP 3: 1.3180 Low Dec 2 ‘25
  • SUP 4: 1.3125 Low Nov 26 ‘25

Gains in GBPUSD are considered corrective - for now. A bear cycle remains intact highlighted by moving average studies that remain in a bear-mode position. A key resistance at the 50-day EMA, at 1.3462, is intact. A clear break of the average would signal a possible reversal. Sights are on 1.3212 next, a Fibonacci retracement. Clearance of this level would strengthen a bearish theme and open 1.3010 further out, the Nov 4 / 5 ‘25 low.

LOOK AHEAD: UK Timeline of Key Events (Times GMT)

Mar-18 06:23
DateTimePeriodEvent
19-Mar0700Jan/FebLabour Market Report
19-Mar1200---Bank Of England Interest Rate
19-Mar1200---BOE Agents' Summary of Business Conditions
20-Mar0700FebPublic Sector Finances
20-Mar1100MarCBI Industrial Trends
20-Mar1200MarBOE Market Participants Survey
24-Mar0930MarS&P Global Flash PMIs
24-Mar1100MarCBI Distributive Trades
25-Mar0700FebConsumer Inflation Report / Producer Prices
25-Mar1200---BOE Greene Panel at Jefferies Conference
26-Mar0930---BOE Breeden Panel at Resolution Foundation
26-Mar1600---BOE Taylor at Exante Data Macro Conference
26-Mar1630---BOE Greene Fireside Chat at PEI Investor Global Summit
27-Mar0001MarGfk Monthly Consumer Confidence
27-Mar0700FebRetail Sales
27-Mar1400---BOE Saporta Remarks at Monetary Markets Committee
30-Mar0930FebBOE Lending to Individuals / M4

LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)

Mar-18 06:18
DateTimeCountryEvent
18-Mar1000EUEZ HICP Final
19-Mar1000EUEZ Construction Output
19-Mar---EUECB Lagarde at European Council Meeting, Brussels
19-Mar1315EUECB Rate Decision
19-Mar1330EUECB Press Conference
20-Mar0700DEPPI
20-Mar0900EUEZ Current Account
20-Mar0900ITForeign Trade Foreign Trade
20-Mar1000EUTrade Balance
21-Mar0730EUECB Cipollone on Intl Monetary & Fin System
23-Mar1500EUConsumer Confidence Indicator (p)
23-Mar1500EUECB Cipollone at House of Euro Event on APPIA Roadmap
23-Mar1600EUECB Lane Keynote on Climate-Macro-Finance
24-Mar0815FRS&P Global Flash PMI
24-Mar0830DES&P Global Flash PMI
24-Mar0900EUS&P Global Flash PMI
24-Mar1330EUECB Cipollone at Digital Euro Hearing, ECON
24-Mar1545EUECB Lane Remarks at Forecasting Techniques Conference