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Focus Is On Key Resistance

GBPUSD TECHS
  • RES 4: 1.3712 Low Mar 1, 2018
  • RES 3: 1.3677 76.4% retracement of the 2017 - 2020 downtrend
  • RES 2: 1.3624 High Dec 17 and the bull trigger
  • RES 1: 1.3581 High Dec 28
  • PRICE: 1.3540 @ 06:09 GMT Dec 30
  • SUP 1: 1.3430 Low Dec 28
  • SUP 2: 1.3304 Low Dec 22 and the 50-day EMA
  • SUP 3: 1.3188 Low Dec 21
  • SUP 4: 1.3135 Low Dec 11 and key support

GBPUSD maintains a bullish theme. Despite the recent pullback, attention is on the key t resistance at 1.3624, Dec 17 high. A break of this hurdle would reinforce the positive trend structure and open 1.3677 initially, 76.4% retracement of the 2017 - 2020 downtrend. On the downside and given this month's volatile price action, 1.3135, Dec 11 low remains key support. Initial firm support is at 1.3304, Dec 22 low.

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