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Bullish Conditions Intact

  • RES 4: 1.3547 1.382 proj of Sep 23 - Oct 21 rally from Nov 2 low
  • RES 3: 1.3514 High Dec 13 and a key resistance
  • RES 2: 1.3482 High Sep 1 and the bull trigger
  • RES 1: 1.3398/3403 High Nov 23 and 26 / High Sep 2
  • PRICE: 1.3372 @ 05:52 GMT Nov 27
  • SUP 1: 1.3293 Low Nov 24
  • SUP 2: 1.3218 20-day EMA
  • SUP 3: 1.3196 Low Nov 19 and key near-term support
  • SUP 4: 1.3106 Low Nov 12 and a key support

GBPUSD is unchanged and trading closer to recent highs. The outlook remains bullish. A break of Monday's high at 1.3398 would confirm a resumption of the current uptrend to pave the way for a climb towards key resistance at 1.3482, Sep 1 high. On the downside, firm support is seen at 1.3196, low Nov 19. A breach of this level is required to dent the bullish mood and risk a deeper corrective sell-off.

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