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Watching Support At The 20-Day EMA

GBPUSD TECHS
  • RES 4: 1.2683 2.0% 10-dma envelope
  • RES 3: 1.2667 High May 27 2022
  • RES 2: 1.2599 High Jun 7 2022
  • RES 1: 1.2450/2546 High Apr 18 / 14 and the bull trigger
  • PRICE: 1.2419 @ 06:02 BST Apr 19
  • SUP 1: 1.2353/45 Low Apr 17 / 10
  • SUP 2: 1.2275 Low Apr 3
  • SUP 3: 1.2258 50-day EMA
  • SUP 4: 1.2191 Low Mar 24

GBPUSD remains in an uptrend the recent pullback is considered corrective - for now. The pair has pierced support at 1.2369 the 20-day EMA. A clear break of this average would signal scope for a deeper correction. On the upside, a resumption of gains would refocus attention on last Friday’s 1.2546 high where a break would resume the uptrend and open 1.2599, the Jun 7 2022 high. Support below the 20-day EMA lies at 1.2345, the Apr 10 low.

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