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GBPUSD TECHS
  • RES 4: 1.3835 High Oct 20 and key resistance
  • RES 3: 1.3710/49 200-dma / High Jan 13
  • RES 2: 1.3662 High Jan 20
  • RES 1: 1.3628 High Feb 02
  • PRICE: 1.3517 @ 06:14 GMT Feb 8
  • SUP 1: 1.3491/3435 Low Feb 7 / Low Feb 1
  • SUP 2: 1.3358/43 Low Jan 27 / Low Dec 23
  • SUP 3: 1.3301 76.4% retracement of the Dec 8 - Jan 13 bull phase
  • SUP 4: 1.3221 2.0% 10-dma envelope

GBPUSD remains below last week’s high of 1.3628 on Feb 3. The short-term outlook is unchanged though and remains bullish. This follows the recent recovery from 1.3358, Jan 27 low and scope is seen for a climb towards 1.3662 next, Jan 20 high. On the downside, initial support lies at 1.3491, Monday’s low. Key support is unchanged at 1.3358, Jan 27 low. This is the trigger for a resumption of bearish pressure.

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