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Bull Trigger Tripped

GBPUSD TECHS
  • RES 4: 1.2667 High May 27 2022
  • RES 3: 1.2673 2.0% 10-dma envelope
  • RES 2: 1.2599 High Jun 7 2022
  • RES 1: 1.2537 High Apr 13
  • PRICE: 1.2506 @ 15:50 BST Apr 13
  • SUP 1: 1.2399 Low Apr 12
  • SUP 2: 1.2339 20-day EMA
  • SUP 3: 1.2275 Low Apr 3
  • SUP 4: 1.2228 50-day EMA

GBPUSD continues to recover from Monday’s 1.2345 low and the uptrend remains intact, Last week’s gains resulted in a break of 1.2448, the Jan 23 high and the top of a broad 3.5 months range. Progress extended through the bull trigger of 1.2525 Thursday, further marking an important medium-term development. This signals the next stage of the uptrend that started Sep 26 2022. The focus is on 1.2599, the Jun 7 2022 high. Support is at 1.2324, 20-day EMA.

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