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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: 1.4107 @ 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

Early GBPUSD gains faltered Thursday, with the pair holding below Tuesday's 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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