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Remains Below Tuesday's High

GBPUSD TECHS
  • RES 4: 1.4453 2.0% 10-dma envelope
  • RES 3: 1.4377 High Apr 17, 2018 and a key resistance
  • RES 2: 1.4315 High Apr 18, 2018
  • RES 1: 1.4248 High Jun 1
  • PRICE: 1.4161 @ 06:02 BST Jun 3
  • SUP 1: 1.4092 Low May 27 and key short-term support
  • SUP 2: 1.4006/4002 Low May 13 / 50-day EMA
  • SUP 3: 1.3972 Low May 10
  • SUP 4: 1.3858 Low May 6

GBPUSD remains below Tuesday' high of 1.4248. The probe this week of former resistance at 1.4237, Feb 24 high reinforces the broader bullish theme however a clear break is still required to confirm a resumption of the uptrend. A clear breach of this hurdle would open 1.4315 next, April 18, 2018 high. On the downside, initial firm support is at 1.4092, May 27 low where a break would instead suggest scope for a deeper corrective pullback.

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