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GBPUSD TECHS: Sell Off Accelerates

GBPUSD TECHS
USForeign Exchange Technical AnalysisCEEMEABulletUKMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.2874 High Nov 12 
  • RES 3: 1.2811 High Dec 6 and key resistance   
  • RES 2: 1.2711 50-day EMA
  • RES 1: 1.2598 20-day EMA
  • PRICE: 1.2381 @ 15:38 GMT Jan 2
  • SUP 1: 1.2370 Low Jan 2
  • SUP 2: 1.2367 76.4% retracement of the Oct 4 ‘23 - Sep 26 uptrend
  • SUP 3: 1.2300 Low Apr ‘22
  • SUP 4: 1.2276 2.0% 10-dma envelope  

GBP/USD weakness into the close has posted a 1.2370 low so far, stopping just short of a test on 1.2367, the 76.4% retracement for the upleg posted off the October 2023 low. A break here opens fresh multi-month lows below support of 1.2300. Moving average studies are in a bear-mode position, highlighting a dominant downtrend. 

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  • RES 4: 1.2874 High Nov 12 
  • RES 3: 1.2811 High Dec 6 and key resistance   
  • RES 2: 1.2711 50-day EMA
  • RES 1: 1.2598 20-day EMA
  • PRICE: 1.2381 @ 15:38 GMT Jan 2
  • SUP 1: 1.2370 Low Jan 2
  • SUP 2: 1.2367 76.4% retracement of the Oct 4 ‘23 - Sep 26 uptrend
  • SUP 3: 1.2300 Low Apr ‘22
  • SUP 4: 1.2276 2.0% 10-dma envelope  

GBP/USD weakness into the close has posted a 1.2370 low so far, stopping just short of a test on 1.2367, the 76.4% retracement for the upleg posted off the October 2023 low. A break here opens fresh multi-month lows below support of 1.2300. Moving average studies are in a bear-mode position, highlighting a dominant downtrend.