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Breaches Support At The 20-Day EMA

GBPUSD TECHS
  • RES 4: 1.3228 Bull channel top drawn from the Mar 8 low
  • RES 3: 1.3142 High Jul 14 and the bull trigger
  • RES 2: 1.3045 High Jul 19
  • RES 1: 1.2965 High Jul 20
  • PRICE: 1.2872 @ 06:23 BST Jul 24
  • SUP 1: 1.2816 Low Jul 20
  • SUP 2: 1.2801 61.8% Fibonacci retracement of the Jun-July Upleg
  • SUP 3: 1.2751 Low Jul 10
  • SUP 4: 1.2714 50-day EMA

GBPUSD is trading closer to its recent lows. The pair last week breached support at the 20-day EMA - at 1.2866. A continuation lower would expose the 50-day EMA which intersects at 1.2714. The base of the bull channel, drawn from the Mar 8 low, intersects at 1.2676 and represents a key trend support. The medium-term outlook remains bullish. Key resistance is at 1.3142, the Jul 14 high.

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