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Bulls Eye 1.40 As a Base

  • RES 4: 1.4189 2.00 projection of the Jan 11 - 27 from the Feb 4 low
  • RES 3: 1.4109 1.764 projection of the Jan 11 - 27 from the Feb 4 low
  • RES 2: 1.4082 1.00 proj of May - Sep 2020 rally from Sep 23 low
  • RES 1: 1.4062 Bull channel top drawn off the Nov 2, 2020 low
  • PRICE: 1.4011 @ 19:43 GMT Feb 21
  • SUP 1: 1.3952 Low Feb 19
  • SUP 2: 1.3830 Low Feb 17
  • SUP 3: 1.3776 Low Feb and Key near-term support
  • SUP 4: 1.3737 Low Feb 9

GBPUSD rallied further Friday, clearing the 1.4000 handle as the strong uptrend extends. A bullish tone remains clearly intact and Cable maintains a bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode too. The focus is on 1.4082 next, a Fibonacci projection. On the downside, key near-term support has been defined at 1.3830, Feb 17 low.

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