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Finds Resistance

GBPUSD TECHS
  • RES 4: 1.3983/90 High Jul 30 / 61.8% of the Jun 1 - Jul 20 sell-off
  • RES 3: 1.3916 High Aug 9
  • RES 2: 1.3826 50-day EMA
  • RES 1: 1.3808 High Aug 31
  • PRICE: 1.3787 @ 16:28 BST Sep 1
  • SUP 1: 1.3680/02 Low Aug 27 / Low Aug 20
  • SUP 2: 1.3572 Low Jul 20 and the bear trigger
  • SUP 3: 1.3520 Low Jan 18
  • SUP 4: 1.3452 Low, Jan 11

GBPUSD found resistance Tuesday at 1.3808. Despite recent gains, a bearish theme continues to dominate. This follows the sell-off between Jul 30 and Aug 20. Note too that price has remained below its 50-day EMA, at 13826 today, where a break is required to ease the current bearish pressure. A stronger sell-off would strengthen a bearish argument. Attention is on key support at 1.3572, Jul 20 low.

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