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Consolidating

GBPUSD TECHS
  • RES 4: 1.2800 Round number resistance
  • RES 3: 1.2772 High Apr 26
  • RES 2: 1.2719 50-day EMA
  • RES 1: 1.2667 High May 27
  • PRICE: 1.2579 @ 06:24 BST June 1
  • SUP 1: 1.2547 20-day EMA
  • SUP 2: 1.2472/38 Low May 24 and 20
  • SUP 3: 1.2317 Low May 17
  • SUP 4: 1.2156 Low May 13 and the bear trigger

GBPUSD is largely unchanged and still consolidating. The pair maintains a firmer tone though. Price last week traded above resistance at 1.2638, May 4 high. This reinforced a bullish set-up and signals scope for an extension towards the 50-day EMA that intersects at 1.2719 - an important resistance point. Key support and the bear trigger is unchanged at 1.2156, May 13 low. Initial firm support lies at 1.2472, low May 24.

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