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GBPUSD TECHS
  • RES 4: 1.2759 2.0% 10-dma envelope
  • RES 3: 1.2746 High Aug 30
  • RES 2: 1.2720 61.8% retracement of the Jul 14 - Oct 4 bear leg
  • RES 1: 1.2644 High Nov 27
  • PRICE: 1.2626 @ 06:05 GMT Nov 28
  • SUP 1: 1.2506/2419 High Nov 14 / 20-day EMA
  • SUP 2: 1.2370 50-day EMA
  • SUP 3: 1.2266 Low Nov 14
  • SUP 4: 1.2187 Low Nov 10 and key short-term support

The trend direction in GBPUSD remains up and Monday’s gains reinforce current conditions. The extension maintains the current positive price sequence of higher highs and higher lows and price has breached 1.2589, 50.0% of the Jul 14 - Oct 4 bear leg. This opens 1.2720, the 61.8% retracement level and 1.2759, a vol band resistance. On the downside, initial firm support to watch has been defined at 1.2419, the 20-day EMA.

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