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INDIA

Higher Oil Prices Fuel Inflation Worries

CHINA RATES

Risk Sentiment Fragile

GBP

CNH: Pulls Back From One-Month High

JGBS

Better Bid During The Morning

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  • RES 4: 1.4074 Low Jun 10
  • RES 3: 1.4001 High Jun 23 and key resistance
  • RES 2: 1.3849/3917 20-day EMA / 50-day EMA
  • RES 1: 1.3723/90 Low Jul 2 / High Jul 19
  • PRICE: 1.3602 @ 16:46 BST Jul 20
  • SUP 1: 1.3572 Low Jul 20
  • SUP 2: 1.3567 Low Feb 4
  • SUP 3: 1.3520 Low Jan 18
  • SUP 4: 1.3516 2.0% 10-dma envelope

GBPUSD extended losses Tuesday, edging through nearby support at 1.3579 to prompt the outlook to deteriorate further. Moving average studies continue to point south, with the clear breach of 1.3669 reinforcing the downside bias. Markets watch next support at the Feb 4 low of 1.3567 and the 2.0% 10-dma envelope crossing at 1.3516. On the upside, firm resistance is at Monday's 1.3790 high.