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Bullish Trend Structure

GBPUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 1.2894 High Mar 8 and a key resistance
  • RES 3: 1.2823 High Mar 14
  • RES 2: 1.2803 High Mar 21
  • RES 1: 1.2761 High May 22
  • PRICE: 1.2754 @ 06:18 BST May 27
  • SUP 1: 1.2643/1.2602 Low May 16 / 50-day EMA
  • SUP 2: 1.2510 Low May 14
  • SUP 3: 1.2446 Low May 9 and a key near-term support
  • SUP 4: 1.2423 Low Apr 24

The GBPUSD trend condition remains bullish and the pair is approaching last week’s high. The recent breach of 1.2634, the May 3 high, confirmed a resumption of the current bull cycle. 1.2754, 76.4% of the Mar 8 - Apr 22 bear leg, was pierced last Wednesday, a clear break would expose 1.2803, the Mar 21 high. Note that MA conditions are in a bull-mode set-up, reinforcing the uptrend. Initial firm support to watch is 1.2602, the 50-day EMA.

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  • RES 4: 1.2894 High Mar 8 and a key resistance
  • RES 3: 1.2823 High Mar 14
  • RES 2: 1.2803 High Mar 21
  • RES 1: 1.2761 High May 22
  • PRICE: 1.2754 @ 06:18 BST May 27
  • SUP 1: 1.2643/1.2602 Low May 16 / 50-day EMA
  • SUP 2: 1.2510 Low May 14
  • SUP 3: 1.2446 Low May 9 and a key near-term support
  • SUP 4: 1.2423 Low Apr 24

The GBPUSD trend condition remains bullish and the pair is approaching last week’s high. The recent breach of 1.2634, the May 3 high, confirmed a resumption of the current bull cycle. 1.2754, 76.4% of the Mar 8 - Apr 22 bear leg, was pierced last Wednesday, a clear break would expose 1.2803, the Mar 21 high. Note that MA conditions are in a bull-mode set-up, reinforcing the uptrend. Initial firm support to watch is 1.2602, the 50-day EMA.