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- RES 4: 1.3958 High Aug 4
- RES 3: 1.3913 High Sep 14 and a key resistance
- RES 2: 1.3723/79 20-day EMA / 50-day EMA
- RES 1: 1.3555/3602 Intraday high / Low Aug 20
- PRICE: 1.3475 @ 12:33 BST Sep 29
- SUP 1: 1.3462 50.0% retracement of the Sep '20 - Jan bull phase
- SUP 2: 1.3430 Low Dec 28, 2020
- SUP 3: 1.3354 Low Dec 23, 2020
- SUP 4: 1.3277 61.8% retracement of the Sep '20 - Jan bull phase
GBPUSD remains under pressure following yesterday's sharp sell-off that resulted in the break of a number of key supports. The triangle base at 1.3637, drawn from the Jul 20 low has been breached and this led to a move below 1.3602, the Aug 20 low and 1.3572, the Jul 20 low. Further weakness is likely with the focus on 1.3462 next, 50.0% of the Sep '20 - Jan bull phase. Initial firm resistance is at 1.3602.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.