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Bearish Price Activity

GBPUSD TECHS
  • RES 4: 1.2406 High Jun 16 and a key resistance
  • RES 3: 1.2332 High Jun 27
  • RES 2: 1.2213 High Jun 29
  • RES 1: 1.2056/2117 High Jul 8 / 20-day EMA
  • PRICE: 1.1948 @ 16:17 BST Jul 13
  • SUP 1: 1.1807 Low Jul 12
  • SUP 2: 1.1795 0.764 proj of the Mar 23 - May 13 - 27 price swing
  • SUP 3: 1.1777 Low Mar 26 2020
  • SUP 4: 1.1673 1.00 proj of the May 27 - Jun 14 - 16 price swing

Trend conditions in GBPUSD remain bearish - Cable traded to a fresh trend low Tuesday of 1.1807 to confirm a resumption of its downtrend. This marks an extension of last week’s move lower that resulted in a break of a bear trigger at 1.1934, Jun 14 low. The focus is on 1.1795 next, a Fibonacci projection. Clearance of this level would open the Mar 26 2020 lows of 1.1777. Firm resistance is at 1.2117, the 20-day EMA.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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