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Free AccessConsolidation Mode
- RES 4: 1.3854 High Sep 15
- RES 3: 1.3795 76.4% retracement of the Sep 14 -29 downleg
- RES 2: 1.3711 50-day EMA
- RES 1: 1.3674 High Oct 11
- PRICE: 1.3611 @ 06:22 BST Oct 13
- SUP 1: 1.3544/3412 Low Oct 6 / Low Sep 29 and the bear trigger
- SUP 2: 1.3354 Low Dec 23, 2020
- SUP 3: 1.3297 2.0% 10-dma envelope
- SUP 4: 1.3277 61.8% retracement of the Sep '20 - Jan bull phase
GBPUSD remains within its recent range and the pair is consolidating. A bearish risk remains present despite the recent corrective recovery. This follows weakness on Sep 28 and 29 and the recent breach of a triangle base drawn from the Jul 20 low. Moving average studies are in a bear mode too. The focus is on 1.3354, Dec 23, 2020 low. Initial resistance is at 1.3674, Oct 11 high. A break would open 1.3711, the 50-day EMA.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.