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Pushing Higher

GBPUSD TECHS
  • RES 4: 1.3804 High Apr 30, 2018
  • RES 3: 1.3773 High May 1, 2018
  • RES 2: 1.3677 76.4% retracement of the 2017 - 2020 downtrend
  • RES 1: 1.3618 High May 10, 2018
  • PRICE: 1.3556 @ 05:58 GMT Dec 17
  • SUP 1: 1.3435 Low Dec 16
  • SUP 2: 1.3341 20-day EMA
  • SUP 3: 1.3265 Low Dec 14
  • SUP 4: 1.3135 Low Dec 11 and key support

GBPUSD traded higher again Wednesday to extend the climb off the Dec 11 low of 1.3135. The pair has traded through resistance at 1.3539, Dec 4 high. This confirms the end of the corrective phase between Dec 4 - 11. An extension higher would set the scene for a climb towards 1.3618, May 10 high, 2018. On the downside, key support lies at 1.3135, Dec 11 low. A firm support lies at 1.3341, the 20-day EMA.

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