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Rally Extends

GBPUSD TECHS
  • RES 4: 1.3547 1.382 proj of Sep 23 - Oct 21 rally from Nov 2 low
  • RES 3: 1.3514 High Dec 13 and a key resistance
  • RES 2: 1.3482 High Sep 1 and the bull trigger
  • RES 1: 1.3403 High Sep 2
  • PRICE: 1.3362@ 10:51 GMT Nov 23
  • SUP 1: 1.3273 Intraday low
  • SUP 2: 1.3196 Low Nov 19
  • SUP 3: 1.3150 20-day EMA
  • SUP 4: 1.3106 Low Nov 12 and key near-term support

GBPUSD has continued to climb this morning. Today's technical break has been the move through resistance at 1.3312, high Nov 11 and 18. The breach higher confirms an extension of the bullish condition that has dominated since Sep 23. This has opened the 1.3400 handle next ahead of key resistance at 1.3482/3514. Moving average studies remain in a bull mode reinforcing current conditions. Firm support is at 1.3196, Nov 19 low.

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