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1.3195 Defined As A Key Short-Term Support

GBPUSD TECHS
  • RES 4: 1.3698 High Nov 4
  • RES 3: 1.3607 High Nov 9
  • RES 2: 1.3514/3607 High Nov 18 and a key resistance
  • RES 1: 1.3370/3433 High Nov 30 / 20-day EMA
  • PRICE: 1.3324 @ 06:07 GMT Dec 1
  • SUP 1: 1.3195 Low Nov 30
  • SUP 2: 1.3188 Low Dec 21 2020
  • SUP 3: 1.3165 38.2% Mar ‘20 - Jun ‘21 Upleg
  • SUP 4: 1.3113 2.0% 10-dma envelope

GBPUSD traded sharply lower yesterday down to 1.3195 before rebounding to close around the middle of the day's range. The trend condition remains bearish however 1.3195 low represents an important short-term support given the volatile nature of yesterday’s session. A break would resume the downtrend. A stronger near-term recovery though would expose the 20-day EMA at 1.3433.

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