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Bouncing Well

GBPUSD TECHS
  • RES 4: 1.3712 Low Mar 1, 2018
  • RES 3: 1.3677 76.4% retracement of the 2017 - 2020 downtrend
  • RES 2: 1.3624 High Dec 17 and the bull trigger
  • RES 1: 1.3571 High Dec 23
  • PRICE: 1.3507 @ 16:07 GMT Dec 23
  • SUP 1: 1.3188 Low Dec 21
  • SUP 2: 1.3135 Low Dec 11 and key support
  • SUP 3: 1.3106 Low Nov 12
  • SUP 4: 1.3092 Trendline support drawn off the Sep 23 low

Another day, another slew of Brexit headlines, this time favourable, helping GBPUSD extend the recent bounce. This retains the recent uptrend to turn focus to last week's 1.3624 high. 1.3135, the Dec 11 low remains key support. A break would undermine the recent uptrend and signal scope for a deeper pullback.

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