GBPUSD TECHS: Fresh Trend High
- RES 4: 1.3681 1.500 proj of the Feb 28 - Apr 3 - 7 price swing
- RES 3: 1.3605 1.382 proj of the Feb 28 - Apr 3 - 7 price swing
- RES 2: 1.3550 High Feb 24 ‘22
- RES 1: 1.3533 High May 23
- PRICE: 1.3495 @ 15:47 BST May 23
- SUP 1: 1.3307 20-day EMA
- SUP 2: 1.3158/40 50-day EMA / Low May 12
- SUP 3: 1.3041 Low Apr 14
- SUP 4: 1.2968 Low Apr 11
The trend needle in GBPUSD continues to point north and the pair traded higher again Friday. Key resistance and the bull trigger at 1.3444, the Apr 28 / 29 high, has been cleared. The break confirms a resumption of the uptrend and opens 1.3550, the Feb 24 ‘232 high. Medium-term trend signals highlight a dominant uptrend - moving average studies remain in a bull-mode position. First support lies at 1.3307, the 20-day EMA.
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Figure 1: Response to the Following Statements
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