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Clears Support

GBPUSD TECHS
  • RES 4: 1.3913 High Sep 14 and a key resistance
  • RES 3: 1.3835 High Oct 20
  • RES 2: 1.3680 50-day EMA
  • RES 1: 1.3607 High Nov 9 and key short-term resistance
  • PRICE: 1.3379 @ 16:32 GMT Nov 11
  • SUP 1: 1.3364 Low Nov 11
  • SUP 2: 1.3354 Low Dec 23, 2020
  • SUP 3: 1.3334 1.00 proj of the Sep 14 - 29 - Oct 20 price swing
  • SUP 4: 1.3304 Low Dec 22, 2020

GBPUSD traded sharply lower Wednesday and extended losses into the Thursday close. The pair has breached support at 1.3412, Sep 29 low to confirm a resumption of the current bear trend and this paves the way for an extension lower short-term. A doji candle pattern Tuesday highlighted the likelihood of a resumption of weakness following a corrective bounce between Nov 5 - 9. The move lower has opened 1.3354 next. Firm resistance has been defined at 1.3607, Nov 9 high.

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