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Bearish Risk Still Present

GBPUSD TECHS
  • RES 4: 1.3677/49 200-dma / High Jan 13 and a key resistance
  • RES 3: 1.3662 High Jan 20
  • RES 2: 1.3643/44 High Feb 18 / 10
  • RES 1: 1.3487 Low Feb 15
  • PRICE: 1.3402 @ 19:18 GMT Feb 25
  • SUP 1: 1.3273 Low Feb 24
  • SUP 2: 1.3240 Low Dec 22
  • SUP 3: 1.3174 Low Dec 20
  • SUP 4: 1.3163 Low Dec 8 and a key support

GBPUSD bearish threat remains present following Thursday’s strong selling pressure. The move lower saw the pair trade through support at 1.3487, Feb 15 low and 1.3358, the Jan 27 low and a key support. 1.3301, 76.4% retracement of the Dec 8 - Jan 13 rally has been probed. A clear break would strengthen the bearish case and open 1.3163, Dec 8 low and a key support. Initial resistance is seen at 1.3487.

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