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Support Remains Intact

GBPUSD TECHS
  • RES 4: 1.3958 High Aug 4, 2021
  • RES 3: 1.3913 High Sep 14, 2021
  • RES 2: 1.3835 High Oct 20 and key resistance
  • RES 1: 1.3734/49 200-dma / High Jan 13
  • PRICE: 1.3589@ 06:13 GMT Jan 21
  • SUP 1: 1.3573 Low Jan 18
  • SUP 2: 1.3558/3504 20-day EMA / 50-day EMA
  • SUP 3: 1.3409 Low Dec 29
  • SUP 4: 1.3343 Low Dec 23

GBPUSD remains nearer its recent lows. Trend conditions are bullish and the recent pullback is considered corrective. MA conditions remain in a bull mode and the recent breach of 1.3676, 76.4% of the Oct - Dec downleg reinforced a positive theme. A bullish price sequence of higher highs and higher lows remains intact. The 200-dma at 1.3734 has recently provided resistance. A break would open 1.3835, Oct 20 high. Key S/T support is at 1.3558.

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