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Approaching The Near-Term Bear Trigger

GBPUSD TECHS
  • RES 4: 1.4133 High Jun 16
  • RES 3: 1.4074 Low Jun 10
  • RES 2: 1.3990/4001 50-day EMA / High Jun 23
  • RES 1: 1.3968 20-day EMA
  • PRICE: 1.3813 @ 06:13 BST Jul 1
  • SUP 1: 1.3787 Low Jun 21
  • SUP 2: 1.3717 Low Apr 16
  • SUP 3: 1.3669 Low Apr 12 and a key support
  • SUP 4: 1.3567 Low Apr 2

GBPUSD continues to trade lower this week with the pair approaching the key short-term support and bear trigger at 1.3787, Jun 21 low. Bears remain in charge and Cable is back below the 100-DMA, reinforcing current bearish conditions. A break of 1.3787 would strengthen a bearish case and open 1.3717, Apr 14 low. On the upside, initial firm resistance is seen at 1.4001, Jun 23 high.

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