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GBPUSD TECHS
  • RES 4: 1.4443 2.0% 10-dma envelope
  • RES 3: 1.4315 High Apr 18, 2018
  • RES 2: 1.4237 High Feb 24 and the bull trigger
  • RES 1: 1.4234 High May 21
  • PRICE: 1.4196 @ 06:24 BST May 31
  • SUP 1: 1.4092 Low May 27
  • SUP 2: 1.4006/3972 Low May 13 / Low May 10
  • SUP 3: 1.3980 50-day EMA
  • SUP 4: 1.3858 Low May 6

GBPUSD continues to trade close to recent highs. The outlook remains bullish and sights are on 1.4237, Feb 24 high and the key bull trigger. A break would reinforce a bullish theme and importantly would confirm a resumption of the broader uptrend that started March 2020. On the downside, initial firm support is unchanged at 1.4006, May 13 low where a break would suggest scope for a deeper corrective pullback. 1.4092 is first support.

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