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GBPUSD TECHS
  • RES 4: 1.4133 High Jun 16
  • RES 3: 1.4074 Low Jun 10
  • RES 2: 1.4001 High Jun 23 and key resistance
  • RES 1: 1.3868/3927 20-day EMA / 50-day EMA
  • PRICE: 1.3687 @ 17:03 BST Jul 19
  • SUP 1: 1.3663 Low Jul 19
  • SUP 2: 1.3579 23.6% Mar'20 - Jun'21 Rally
  • SUP 3: 1.3567 Low Apr 2
  • SUP 4: 1.3520 Low Jan 18

GBPUSD traded sharply lower Monday, taking out key support as well as the 200-dma at 1.3700. The outlook is bearish following the recent break of 1.3787, Jun 21 low that confirmed a resumption of the current bearish cycle. Furthermore, MA studies are still in a bear mode highlighting a bearish condition. Monday's break of support as well as the bear trigger at 1.3669, Apr 12 low opens scope for further losses. Resistance is at 1.3868.

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