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Probes Key Resistance

GBPUSD TECHS
  • RES 4: 1.3773 High May 1, 2018
  • RES 3: 1.3712 Low Mar 1, 2018
  • RES 2: 1.3677 76.4% retracement of the 2017 - 2020 downtrend
  • RES 1: 1.3650 Intraday high
  • PRICE: 1.3620 @ 05:25 GMT Dec 31
  • SUP 1: 1.3494 Low Dec 30
  • SUP 2: 1.3430 Low Dec 28
  • SUP 3: 1.3317/04 50-day EMA / Low Dec 22
  • SUP 4: 1.3188 Low Dec 21

GBPUSD maintains a bullish theme and is holding onto this week's gains. Price has probed the key resistance at 1.3624, Dec 17 high. A clear break of this hurdle would reinforce the positive trend structure and open 1.3677 initially, 76.4% retracement of the 2017 - 2020 downtrend. On the downside and given this month's volatile price action, 1.3135, Dec 11 low remains key support. Firm support lies at 1.3430, Dec 28 low and 1.3304, Dec 22 low.

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