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Trading Below Recent Highs

GBPUSD TECHS
  • RES 4: 1.3804 High Apr 30, 2018
  • RES 3: 1.3773 High May 1, 2018
  • RES 2: 1.3750 0.764 proj of May 18 - Sep 1 rally from Sep 23 low
  • RES 1: 1.3710/12 Jan 14 high / Low Mar 1, 2018
  • PRICE: 1.3609 @ 06:05 GMT Jan 19
  • SUP 1: 1.3520 Low Jan 18
  • SUP 2: 1.3505 Low Jan 12
  • SUP 3: 1.3452 Low Jan 11 and key near-term support
  • SUP 4: 1.3430 Low Dec 28

GBPUSD dipped lower Monday, slipping through the Friday lows to expose 1.3505. A breach of this level would signal scope for a deeper short-term sell-off and expose the key near-term support at 1.3452, Jan 11 low. From a trend perspective, the outlook remains bullish. A clear breach of 1.3710/12 would confirm a resumption of the current uptrend and open 1.3773, the May 1, 2018 high.

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