GBPUSD is able to stay above a cluster of support

Technical Analysis

Author: Greg Michalowski | gbpusd

Lots of support between 1.2461-65 area

As per an earlier post, there is lots of support at the 1.2461-65 area:
  • 50% of the range since December 2019 comes in at 1.2461
  • 100 day moving average comes at 1.2464
  • 38.2% retracement of the move down from the June 10 high comes in at 1.24652
The last 2 hourly bars have bottomed at 1.2467 and 1.2465 respectively. The price is currently trading back up at 1.24857 after successfully holding support. Going into the new trading day that area remains a key support level. Stay above and the buyers remain in control.

Lots of support between 1.2461-65 area

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