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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, 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.