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Clears Key Resistance

GBPUSD TECHS
  • RES 4: 1.3804 High Apr 20, 2018
  • RES 3: 1.3773 High May 1, 2018
  • RES 2: 1.3712 Low Mar 1, 2018
  • RES 1: 1.3686 High Dec 31
  • PRICE: 1.3655 @ 18:31 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 last week's gains. Price has cleared the key resistance at 1.3624, Dec 17 high. The breach of this hurdle reinforces the positive trend structure and opens 1.3712 next, the Mar 1, 2018 low. On the downside and given last month's volatile price action, 1.3135, Dec 11 low remains key trend support. Firm support lies at 1.3430, Dec 28 low and 1.3304, Dec 22 low.

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