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- RES 4: 1.4315 High Apr 18, 2018
- RES 3: 1.4307 2.0% 10-dma envelope
- RES 2: 1.4237 High Feb 24 and a key resistance
- RES 1: 1.4220 High May 18
- PRICE: 1.4186 @ 19:48 BST May 18
- SUP 1: 1.4006/3972 Low May 13 / Low May 10
- SUP 2: 1.3890 50-day EMA
- SUP 3: 1.3801 Low May 3 and a key support
- SUP 4: 1.3785 Bull channel base drawn off the May 2020 low
The GBPUSD outlook remains bullish and the pair traded higher Tuesday. The rate has recently cleared a number of resistance levels, reinforcing a positive theme and sights are set on the key resistance at 1.4237, Feb 24 high. A break of 1.4237 would strengthen a bullish case and confirm a resumption of the broader uptrend that started in March 2020. On the downside, initial firm support is unchanged at 1.4006, May 13 low.