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Bulls Remain In The Driver’s Seat

GBPUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 1.2908 1.382 proj of the Apr 22 - May 3 - 9 price swing
  • RES 3: 1.2894 High Mar 8 and a key resistance
  • RES 2: 1.2859 1.236 proj of the Apr 22 - May 3 - 9 price swing
  • RES 1: 1.2803 High Mar 21
  • PRICE: 1.2711 @ 19:28 BST May 29
  • SUP 1: 1.2653/1.2615 20- and 50-day EMA values
  • 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

GBPUSD bulls remain in the driver’s seat and this week’s gains reinforce current bullish trend conditions. 1.2754 has been cleared, 76.4% of the Mar 8 - Apr 22 bear leg. This reinforces current bullish conditions and paves the way for a climb towards 1.2803 next, the Mar 21 high. Note that moving average studies are in a bull-mode set-up, highlighting an uptrend. Initial firm support to watch is 1.2653, the 20-day EMA.

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  • RES 4: 1.2908 1.382 proj of the Apr 22 - May 3 - 9 price swing
  • RES 3: 1.2894 High Mar 8 and a key resistance
  • RES 2: 1.2859 1.236 proj of the Apr 22 - May 3 - 9 price swing
  • RES 1: 1.2803 High Mar 21
  • PRICE: 1.2711 @ 19:28 BST May 29
  • SUP 1: 1.2653/1.2615 20- and 50-day EMA values
  • 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

GBPUSD bulls remain in the driver’s seat and this week’s gains reinforce current bullish trend conditions. 1.2754 has been cleared, 76.4% of the Mar 8 - Apr 22 bear leg. This reinforces current bullish conditions and paves the way for a climb towards 1.2803 next, the Mar 21 high. Note that moving average studies are in a bull-mode set-up, highlighting an uptrend. Initial firm support to watch is 1.2653, the 20-day EMA.