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Trading Near Its Recent Highs

GBPUSD TECHS
  • RES 4: 1.3835 High Oct 20
  • RES 3: 1.3690/49 200-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: 1.3617 @ 17:50 GMT Feb 21
  • SUP 1: 1.3550/3487 20-day EMA / 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 closer to its recent highs and the outlook remains bullish. Support at 1.3487 has remained in place and moving average studies continue to point north. The focus is on a test of 1.3662 next, Jan 20 high where a break would expose 1.3749, the Jan 13 high and key near-term resistance. On the downside, a move below 1.3487 would instead threaten the current bull theme and open 1.3358, Jan 27 low.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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