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Rallying into Year End

  • RES 4: 1.3698 High Nov 4
  • RES 3: 1.3642 2.0% 10-dma envelope
  • RES 2: 1.3607 High Nov 9
  • RES 1: 1.3527 High Dec 31 and a key resistance
  • PRICE: 1.3513 @ 15:02 GMT Dec 31
  • 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 added to recent gains Friday, rallying to touch 1.3527. This puts the pair at the best levels since mid-November into year end. GBP/USD is now well clear of the 50-day EMA at 1.3417 and opens scope for further gains toward the 1.36 handle should the 100-dma at 1.3566 give way. 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 |
MNI London Bureau | +44 203-865-3809 |

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