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EURUSD TECHS

Bear Cycle Extension

US TSY OPTIONS

30Y Put

COMMODITIES

Oil Bounces, Eyes Iran Poll and Gulf Weather

US EURODLR FUTURES

Large Red Sep'22 Sale

EQUITIES

Equities Sag as Rate Rise Fears Prompt Jitters

US EURODLR OPTIONS

Midcurve Put Sale

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  • RES 4: 1.4315 High Apr 18, 218
  • RES 3: 1.4237 High Feb 24 and a key resistance
  • RES 2: 1.4233 2.0% 10-dma envelope
  • RES 1: 1.4166 High May 11
  • PRICE: 1.4122 @ 06:08 BST May 12
  • SUP 1: 1.3972 Low May 10
  • SUP 2: 1.3858 Low May 6
  • SUP 3: 1.3801 Low May 3 and a key support
  • SUP 4: 1.3752 Bull channel base drawn off the May 2020 low

GBPUSD is holding onto recent gains and the outlook remains bullish. The pair has cleared a number of resistance levels reinforcing a positive theme with sights set on the key resistance at 1.4237, Feb 24 high. A break of 1.4237 would strengthen a bullish case and importantly confirm a resumption of the broader uptrend that started in March 2020. On the downside, initial support is at Monday's intraday low of 1.3972.