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Bullish Trend Sequence

GBPUSD TECHS
  • RES 4: 1.2276 High Aug 10
  • RES 3: 1.2192 200-dma
  • RES 2: 1.2154 High Nov 24
  • RES 1: 1.2138 2.0% 10-dma envelope
  • PRICE: 1.2086 @ 15:47 GMT Nov 25
  • SUP 1: 1.2000/1.1873 Round number support / Low Nov 23
  • SUP 2: 1.1737 20-day EMA
  • SUP 3: 1.1598 50-day EMA
  • SUP 4: 1.1500 Round number support

GBPUSD printed another higher high Thursday, extending the recent up trend. The move cements an extension of the bullish price sequence of higher highs and higher lows and note that moving average studies are in a bull-mode position, highlighting current sentiment. The focus is on 1.2192 next, the 200-dma. On the downside, key short-term support is seen at 1.1737, the 20-day EMA.

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