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Firmer Posture Maintained

GBPUSD TECHS
  • RES 4: 1.3482 High Sep 1 and the bull trigger
  • RES 3: 1.3403 High Sep 2
  • RES 2: 1.3319 High Sep 4
  • RES 1: 1.3312 High Nov 11 and 18 high and the bull trigger
  • PRICE: 1.3289@ 16:55 GMT Nov 20
  • SUP 1: 1.3196 Low Nov 19
  • SUP 2: 1.3106 Low Nov 12 and key near-term support
  • SUP 3: 1.3093 Low Nov 6
  • SUP 4: 1.3048 50-day EMA

GBPUSD is trading higher and maintains a bullish tone having tested resistance at 1.3312 earlier this week. Gains since Nov low 2 saw the pair breach a key resistance at 1.3177, Oct 21 and Nov 6 high. This extends the recovery that started Sep 23 and maintains the current bullish price sequence of higher highs and higher lows. A clear breach of 1.3312 would open 1.3357, Sep 3 high. On the downside, firm S/T support lies at 1.3106, Nov 12 low.

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