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Bullish Binge Extends

GBPUSD TECHS
  • RES 4: 1.4377 2018 High and Major Resistance
  • RES 3: 1.4344 High April 18 2018
  • RES 2: 1.4246 2.0% 10-dma envelope
  • RES 1: 1.4237 High Feb 24
  • PRICE: 1.4092 @ 16:44 GMT Feb 24
  • SUP 1: 1.4079 23.6% Fib of February Rally
  • SUP 2: 1.3952 High Feb 16
  • SUP 3: 1.3776 Low Feb 12 and Key near-term support
  • SUP 4: 1.3737 Low Feb 9

Another day, another high for GBP/USD as the pair ripped higher in Asia-Pac hours to touch new cycle and multi-year highs of 1.4237. This clears out all near-term resistance but does put the pair firmly in technically overbought territory. In contrast, moving average studies are solidly in bull mode. Next upside levels rest at 1.4246 vol band resistance and the 1.4344 high last posted in 2018.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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