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GBPUSD TECHS: Moving Average Bullish Crossover

GBPUSD TECHS
USForeign Exchange Technical AnalysisCEEMEABulletUKMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.2877 2.0% 10-dma envelope
  • RES 3: 1.2811 High Dec 6 ‘24
  • RES 2: 1.2767 50.0% retracement of the Sep 26 ‘24 - Jan 13 bear leg 
  • RES 1: 1.2716 High Feb 26
  • PRICE: 1.2622 @ 16:06 GMT Feb 27
  • SUP 1: 1.2606 Low Feb 25     
  • SUP 2: 1.2534 50-day EMA
  • SUP 3: 1.2440 Low Feb 13  
  • SUP 4: 1.2333 Low Feb 11 and a key support    

The current bullish trend condition in GBPUSD remains intact despite Thursday’s fade in prices. The pair has built on recent gains this week. A positive price sequence of higher highs and higher lows remains in place and note that moving average studies have crossed into a bull-mode position, highlighting a potentially stronger bull cycle. An extension would open 1.2767, the 50.0% retracement of the Sep 26 ‘24 - Jan 13 bear leg. Initial firm support to watch is 1.2534, the 50-day EMA.     

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  • RES 4: 1.2877 2.0% 10-dma envelope
  • RES 3: 1.2811 High Dec 6 ‘24
  • RES 2: 1.2767 50.0% retracement of the Sep 26 ‘24 - Jan 13 bear leg 
  • RES 1: 1.2716 High Feb 26
  • PRICE: 1.2622 @ 16:06 GMT Feb 27
  • SUP 1: 1.2606 Low Feb 25     
  • SUP 2: 1.2534 50-day EMA
  • SUP 3: 1.2440 Low Feb 13  
  • SUP 4: 1.2333 Low Feb 11 and a key support    

The current bullish trend condition in GBPUSD remains intact despite Thursday’s fade in prices. The pair has built on recent gains this week. A positive price sequence of higher highs and higher lows remains in place and note that moving average studies have crossed into a bull-mode position, highlighting a potentially stronger bull cycle. An extension would open 1.2767, the 50.0% retracement of the Sep 26 ‘24 - Jan 13 bear leg. Initial firm support to watch is 1.2534, the 50-day EMA.