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GBPUSD TECHS
  • RES 4: 1.3983 High Jul 30
  • RES 3: 1.3958 High Aug 4
  • RES 2: 1.3913 High Sep 14 and a key resistance
  • RES 1: 1.3720/3835 50-day EMA / High Oct 20
  • PRICE: 1.3690 @ 20:39 GMT Nov 3
  • SUP 1: 1.3574 61.8% retracement of the Sep 29 - Oct 20 rally
  • SUP 2: 1.3544 Low Oct 6
  • SUP 3: 1.3465 2.0% 10-dma env
  • SUP 4: 1.3412 / Low Sep 29 and bear trigger

GBPUSD recovered Wednesday. This week's earlier weakness resulted in a move back below both the 20- and 50-day EMAs. A continued pullback would open 1.3544, Oct 16 low and highlight a likely resumption of the broader downtrend. On the upside, key short-term resistance has been defined at 1.3835, Oct 20 high where a break would instead confirm a resumption of the recent upleg and open 1.3913 once again, Sep 14 high.

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