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MARKET INSIGHT

What to watch

BRENT TECHS

(G2) Remains Firm

EQUITY TECHS

E-MINI S&P (Z1): Attention Is On All-Time High

USDCAD TECHS

Bearish Threat Remains Present

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  • RES 4: 1.3835 High Oct 20
  • RES 3: 1.3698 High Nov 4
  • RES 2: 1.3514/3607 High Nov 18 and a key resistance / High Nov 9
  • RES 1: 1.3474 20-day EMA
  • PRICE: 1.3298 @ 06:17 GMT Nov 26
  • SUP 1: 1.3216 1.236 proj of the Sep 14 - 29 - Oct 20 price swing
  • SUP 2: 1.3188 Low Dec 21 2020
  • SUP 3: 1.3165 38.2% Mar '20 - Jun '21 Upleg
  • SUP 4: 1.3135 Low Dec 11 2020

GBPUSD remains weak and is trading lower again today. This week's breach of 1.3353, Nov 12 low and 1.3334, 1.00 projection of the Sep 14 - 29 - Oct 20 price swing cements the bearish outlook and paves the way for an extension lower. Furthermore, moving average studies remain in a bear mode, reinforcing current conditions. The focus is on 1.3216 next, a Fibonacci projection level. Firm resistance has been defined at 1.3514, Nov 9 high.