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Eyeing The Bull Trigger

GBPUSD TECHS
  • RES 4: 1.2693 2.0% 10-dma envelope
  • RES 3: 1.2667 High May 27 2022
  • RES 2: 1.2599 High Jun 7 2022
  • RES 1: 1.2507/2546 Intraday high / High Apr 14 and the bull trigger
  • PRICE: 1.2482 @ 05:53 BST Apr 25
  • SUP 1: 1.2353/45 Low Apr 17 / 10
  • SUP 2: 1.2286 50-day EMA
  • SUP 3: 1.2191 Low Mar 24
  • SUP 4: 1.2161 Low Mar 20

GBPUSD traded higher Monday. The trend direction remains up and price is trading above support at 1.2397, the 20-day EMA. This average has been pierced, a clear break of it would signal scope for a deeper correction. On the upside, sights are on 1.2546, the Apr 14 high and bull trigger, where a break would resume the uptrend and open 1.2599, the Jun 7 2022 high. Support below the 20-day EMA lies at 1.2345, Apr 10 low.

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