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Bearish And Approaching Support

GBPUSD TECHS
  • RES 4: 1.4133 High Jun 16
  • RES 3: 1.4074 Low Jun 10
  • RES 2: 1.4001 High Jun 23 and key resistance
  • RES 1: 1.3868/3927 20-day EMA / 50-day EMA
  • PRICE: 1.3755 @ 06:18 BST Jul 19
  • SUP 1: 1.3733 Low Jul 2 and the bear trigger
  • 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 traded lower Friday and has started the week on a softer note. The outlook remains bearish following the recent break of 1.3787, Jun 21 low that confirmed a resumption of the current bearish cycle. Furthermore, MA studies are still in a bear mode highlighting a bearish condition. Recent weakness signals scope for a test of 1.3717, Apr 16 low. Attention is also on the key S/T support and bear trigger at 1.3669, Apr 12 low. Firm resistance is at 1.3927.

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