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Testing Support

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: 1.4203/48 High Jun 3 / High Jun 1 and the bull trigger
  • PRICE: 1.4088 @ 06:11 BST Jun 4
  • SUP 1: 1.4087 Low Jun 3
  • SUP 2: 1.4006 Low May 13 and the 50-day EMA
  • SUP 3: 1.3972 Low May 10
  • SUP 4: 1.3858 Low May 6

GBPUSD gains faltered Thursday and the pair has moved further away from Tuesday's 1.4248 high. The probe this week of former resistance at 1.4237, Feb 24 high does reinforce the broader bullish theme however a clear break is required to confirm a resumption of the uptrend. This would open 1.4315 next, April 18, 2018 high. On the downside, initial firm support at 1.4092, May 27 low is under pressure. A break would expose 1.4006, May 13 low.

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