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Uptrend Remains Intact

  • RES 4: 1.3804 High Apr 20, 2018
  • RES 3: 1.3773 High May 1, 2018
  • RES 2: 1.3712 Low Mar 1, 2018
  • RES 1: 1.3704 High Jan 4
  • PRICE: 1.3563 @ 05:56 GMT Jan 8
  • SUP 1: 1.3521 20-day EMA
  • SUP 2: 1.3430 Low Dec 28
  • SUP 3: 1.3381 50-day EMA
  • SUP 4: 1.3304 Low Dec 22

GBPUSD is still trading below recent highs. The outlook is bullish though following the recent clearance of key resistance at 1.3624, Dec 17 high. The break reinforces a positive trend structure and opens 1.3712 next, Mar 1, 2018 low. Moving average studies remain in bull mode, highlighting the positive trend structure. On the downside, firm support lies at 1.3430, Dec 28 low and 1.3304, Dec 22 low. Initial support is at 1.3526, the 20-day EMA.

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