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LATAM FX

Price Signal Summary: USDBRL Bear Cycle Extends

STIR

Front Rates Unwind Overnight Strength

NORGES BANK

Swedbank on today's statement

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Tsy/Eurodollar Market Roundup

NORGES BANK

Nordea on today's Norges Bank decision

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  • 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: 1.3323 @ 15:53 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 Tuesday 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 price action earlier this week. A break would resume the downtrend. A stronger near-term recovery though would expose the 20-day EMA at 1.3433.