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Extends Gains

GBPUSD TECHS
  • RES 4: 1.4082 1.00 proj of May - Sep 2020 rally from Sep 23 low
  • RES 3: 1.3998 High Apr 26, 2018
  • RES 2: 1.3935 High Apr 27, 2018
  • RES 1: 1.3914 High Feb 15
  • PRICE: 1.3907 @ 15:45 GMT Feb 15
  • SUP 1: 1.3720 20-day EMA
  • SUP 2: 1.3663 Low Feb 5
  • SUP 3: 1.3593/67 50-day EMA / Low Feb 4 and key support
  • SUP 4: 1.3520 Low Jan 18

GBPUSD maintains a firmer tone and has hit a new cycle high Monday. Continued gains confirm a resumption of the underlying uptrend that has been in place since March 2020. Moving average studies remain in a bull mode, reinforcing current conditions. The focus is on 1.3935 next, Apr 27, 2018 high. On the downside, firm support lies at 1.3567, Feb 4 low. A break is required to highlight the top. Initial support is at 1.3720, the 20-day EMA.

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