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Extends Recent Gains

GBPUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 1.2803 High Mar 21
  • RES 3: 1.2754 76.4% retracement of the Mar 8 - Apr 22 bear leg
  • RES 2: 1.2709 High Apr 09
  • RES 1: 1.2670 High May 15
  • PRICE: 1.2652 @ 16:03 BST May 15
  • SUP 1: 1.2510/2446 Low May 14 / 9 and key near-term support
  • SUP 2: 1.2423/2300 Low Apr 24 / 22 and the bear trigger
  • SUP 3: 1.2266 Low Nov 14 ‘23
  • SUP 4: 1.2239 76.4% retracement of the Oct 4 - Mar 8 bull leg

GBPUSD traded higher Wednesday, reinforcing the current bullish tone. Attention is on resistance at 1.2634, the May 3 high. It has been pierced, a clear breach of this hurdle would confirm a resumption of the recent upleg and open 1.2709, Apr 9 high. On the downside, support to watch is 1.2446, May 9 low. Clearance of this level would reinstate a bearish threat and signal scope for an extension towards the bear trigger at 1.2300, the Apr 22 low.

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  • RES 4: 1.2803 High Mar 21
  • RES 3: 1.2754 76.4% retracement of the Mar 8 - Apr 22 bear leg
  • RES 2: 1.2709 High Apr 09
  • RES 1: 1.2670 High May 15
  • PRICE: 1.2652 @ 16:03 BST May 15
  • SUP 1: 1.2510/2446 Low May 14 / 9 and key near-term support
  • SUP 2: 1.2423/2300 Low Apr 24 / 22 and the bear trigger
  • SUP 3: 1.2266 Low Nov 14 ‘23
  • SUP 4: 1.2239 76.4% retracement of the Oct 4 - Mar 8 bull leg

GBPUSD traded higher Wednesday, reinforcing the current bullish tone. Attention is on resistance at 1.2634, the May 3 high. It has been pierced, a clear breach of this hurdle would confirm a resumption of the recent upleg and open 1.2709, Apr 9 high. On the downside, support to watch is 1.2446, May 9 low. Clearance of this level would reinstate a bearish threat and signal scope for an extension towards the bear trigger at 1.2300, the Apr 22 low.