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USDCAD TECHS

Still In A Bear Cycle

LATAM

Summary: USDBRL Extends Losses To Near 2%

AUDUSD TECHS

Needle Still Points North

US TSYS

Focus on Midweek BoC, ECB Policy Announcements

FOREX

EUR Crosses Come Under Pressure As ECB Beckons

Bullish Price Structure

GBPUSD TECHS
  • RES 4: 1.4411 2.0% 10-dma envelope
  • RES 3: 1.4315 High Apr 18, 2018
  • RES 2: 1.4237 High Feb 24 and a key resistance
  • RES 1: 1.4234 High May 21
  • PRICE: 1.4179 @ 06:12 BST May 25
  • SUP 1: 1.4100 Low May 19
  • SUP 2: 1.4006/3972 Low May 13 / Low May 10
  • SUP 3: 1.3947 50-day EMA
  • SUP 4: 1.3801 Low May 3 and a key support

The GBPUSD is trading closer to recent highs and remains bullish. Price action recently cleared a number of resistance levels, reinforcing a positive theme and sights are on 1.4237, Feb 24 high. A break would reinforce a bullish case and confirm a resumption of the broader uptrend that started March 2020. On the downside, initial firm support is unchanged at 1.4006, May 13 low where a break would suggest scope for a deeper pullback.