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- RES 4: 1.3983 High Jul 30
- RES 3: 1.3958 High Aug 4
- RES 2: 1.3913 High Sep 14 and a key resistance
- RES 1: 1.3835 High Oct 20
- PRICE: 1.3791 @ 16:18 BST Oct 26
- SUP 1: 1.3707 20-day EMA
- SUP 2: 1.3655 Low Oct 14
- SUP 3: 1.3544 Low Oct 6
- SUP 4: 1.3459/12 2.0% 10-dma env / Low Sep 29 and bear trigger
GBPUSD is trading below recent highs. The pullback appears to be a shallow correction and this reinforces a bullish theme. The rally from late September remains intact and the recent breach of the 50-day EMA and last week's extension signals scope for further gains. Price has traded above 1.3795, 76.4% of the Sep 14 -29 downleg. The focus is on 1.3913, Sep 14 high and a key resistance. A firm S/T support is at 1.3707, the 20-day EMA.