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Tests Support

GBPUSD TECHS
  • RES 4: 1.3835 High Oct 20
  • RES 3: 1.3681/49 200-dma / High Jan 13 and a key resistance
  • RES 2: 1.3662 High Jan 20
  • RES 1: 1.3643/44 High Feb 18 / 10
  • PRICE: 1.3499 @ 06:52 GMT Feb 24
  • SUP 1: 1.3486/87 Intraday low / Low Feb 15
  • SUP 2: 1.3435 Low Feb 1
  • SUP 3: 1.3358 Low Jan 27 and the bear trigger
  • SUP 4: 1.3301 76.4% retracement of the Dec 8 - Jan 13 bull phase

GBPUSD is trading lower this morning and has tested support at 1.3487. A break of this level would highlight a short-term range breakout and suggest scope for a deeper pullback that potentially would expose 1.3358, the Jan 27 low and a key support. For bulls, clearance of 1.3644, the Feb 10 high would instead confirm a resumption of the recent uptrend. This would expose 1.3749, the Jan 13 high.

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