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Rallying into Year End

GBPUSD TECHS
  • RES 4: 1.3698 High Nov 4
  • RES 3: 1.3607 High Nov 9
  • RES 2: 1.3514 High Nov 18 and a key resistance
  • RES 1: 1.3505 High Dec 30
  • PRICE: 1.3469 @ 07:22 GMT Dec 30
  • SUP 1: 1.3297 Low Dec 22
  • SUP 2: 1.3240/3163 Low Dec 22 / Low Dec 08 and the bear trigger
  • SUP 3: 1.3145 1.0% 10-dma envelope
  • SUP 4: 1.3135 Low Dec 11 2020

GBPUSD traded solidly Wednesday and has cleared the week’s high ahead of the Thursday open. This puts the pair clear of the 50-day EMA at 1.3417. The rally on Dec 22 eased recent bearish pressure and the break of resistance at 1.3374 suggests potential for an extension higher. A clear break of the 50-day EMA would open 1.3514, the Nov 18 high. A return lower would signal a resumption of the recent bearish trend and attention would turn to support at 1.3163, Dec 8 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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