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Watching Key Short-Term Support

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Bull Cycle Still In Play

GBPUSD TECHS
Foreign Exchange Technical Analysismarkets-real-timeBulletMarketsForeign Exchange
  • RES 4: 1.2518 High Jun 6
  • RES 3: 1.2406 High Jun 16 and a key resistance
  • RES 2: 1.2332 High Jun 27
  • RES 1: 1.2293 High Aug 01
  • PRICE: 1.2177 @ 06:25 BST Aug 3
  • SUP 1: 1.2089/63 20-day EMA / Low Jul 29
  • SUP 2: 1.1961 Low Jul 25
  • SUP 3: 1.1890/1760 Low Jul 21 / Low Jul 14 and the bear trigger
  • SUP 4: 1.1673 1.00 proj of the May 27 - Jun 14 - 16 price swing

GBPUSD drifted somewhat during Tuesday trade. A bullish short-term theme remains intact though following gains posted Monday. Price has recently traded above the 50-day EMA. This reinforces short-term bullish conditions with the next objective at 1.2332, the Jun 27 high. Potential is also seen for a climb towards 1.2406, the Jun 16 high and a key resistance. On the downside, initial firm support to watch lies at 1.2063, the Jul 29 low.

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  • RES 4: 1.2518 High Jun 6
  • RES 3: 1.2406 High Jun 16 and a key resistance
  • RES 2: 1.2332 High Jun 27
  • RES 1: 1.2293 High Aug 01
  • PRICE: 1.2177 @ 06:25 BST Aug 3
  • SUP 1: 1.2089/63 20-day EMA / Low Jul 29
  • SUP 2: 1.1961 Low Jul 25
  • SUP 3: 1.1890/1760 Low Jul 21 / Low Jul 14 and the bear trigger
  • SUP 4: 1.1673 1.00 proj of the May 27 - Jun 14 - 16 price swing

GBPUSD drifted somewhat during Tuesday trade. A bullish short-term theme remains intact though following gains posted Monday. Price has recently traded above the 50-day EMA. This reinforces short-term bullish conditions with the next objective at 1.2332, the Jun 27 high. Potential is also seen for a climb towards 1.2406, the Jun 16 high and a key resistance. On the downside, initial firm support to watch lies at 1.2063, the Jul 29 low.