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GBPUSD TECHS: Clears Support At The 20-Day EMA

GBPUSD TECHS
USForeign Exchange Technical AnalysisGlobalCEEMEABulletUKMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 1.3629 2.236 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 3: 1.3527 2.00 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 2: 1.3500 Round number resistance
  • RES 1: 1.3389/3434 Oct 1 / High Sep 26 and the bull trigger 
  • PRICE: 1.3179 @ 06:29 BST Oct 3
  • SUP 1: 1.3154 Low Sep 19
  • SUP 2: 1.3113 50-day EMA 
  • SUP 3:  1.3049 50.0% retracement of the Aug 8 - Sep 25 bull leg  
  • SUP 4:  1.3002 Low Sep 11

GBPUSD has traded lower this week and remains soft as the bear leg extends. The pair has breached support at the 20-day EMA - at 1.3255. The clear break of this average signals scope for a deeper correction, potentially towards the 50-day EMA at 1.3113. The trend condition remains bullish and moving average studies are in a bull-mode position, reflecting a clear uptrend. The bull trigger is 1.3434, the Sep 26 high.

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  • RES 4: 1.3629 2.236 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 3: 1.3527 2.00 proj of the Jun 27 - Jul 17 - Aug 8 price swing
  • RES 2: 1.3500 Round number resistance
  • RES 1: 1.3389/3434 Oct 1 / High Sep 26 and the bull trigger 
  • PRICE: 1.3179 @ 06:29 BST Oct 3
  • SUP 1: 1.3154 Low Sep 19
  • SUP 2: 1.3113 50-day EMA 
  • SUP 3:  1.3049 50.0% retracement of the Aug 8 - Sep 25 bull leg  
  • SUP 4:  1.3002 Low Sep 11

GBPUSD has traded lower this week and remains soft as the bear leg extends. The pair has breached support at the 20-day EMA - at 1.3255. The clear break of this average signals scope for a deeper correction, potentially towards the 50-day EMA at 1.3113. The trend condition remains bullish and moving average studies are in a bull-mode position, reflecting a clear uptrend. The bull trigger is 1.3434, the Sep 26 high.