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Approaching The Bull Trigger

GBPUSD TECHS
  • RES 4: 1.4001 High Jun 23
  • RES 3: 1.3983/90 High Jul 30 / 61.8% of the Jun 1 - Jul 20 sell-off
  • RES 2: 1.3958 High Aug 4
  • RES 1: 1.3892 High Sep 3 and the bull trigger
  • PRICE: 1.3863 @ 15:21 BST Sep 10
  • SUP 1: 1.3727 Low Sep 8 and key near-term support
  • SUP 2: 1.3680 Low Aug 27
  • SUP 3: 1.3602 Low Aug 20
  • SUP 4: 1.3572 Low Jul 20 and the bear trigger

GBPUSD is firmer following Thursday's rally and has narrowed the gap with the bull trigger at 1.3892, Sep 3 high. This keeps the bullish theme in place following recent gains between Aug 20 - Sep 3. The focus is on 1.3958 next, Aug 4 high ahead of a key resistance at 1.3983, Jul 30 high. On the downside, 1.3727 has been defined as an initial key support, Sep 8 low. A break would resume recent bearish pressure.

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