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Dec 08 - 08:36 PM
GBP/USD - 1.3200 Resilient, But Charts Suggest It's Vulnerable
First appeared on eFXplus on Dec 08 - 06:30 PM
  • Flat, as Johnson maintains his election lead in weekend polls nL1N28I07P

  • 1.3100 522M and 1.3115 200M strikes provide a base in Asia, 1.3200 434M caps

  • Charts - 5, 10 & 21 daily and weekly MAs head north - a trending setup

  • Bounce stalled late last week at 1.3168/90, 50% 2018/19 fall and May high

  • Strong resistance into 1.3200, close above 1.3200 would be a major positive

  • Sustained 1.3200 break would open the door to the 1.3380 2019 high in March

  • Close below the prior 1.3000 range high needed to undermine topside bias

gbp2 dec 9 Click here

Source:
Refinitiv IFR Research/Market Commentary

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