R3: 1.9980/90

R2: 1.9950/60

R1: 1.9890/1.9900

Current Price: 1.9852

S1: 1.9920/30

S2: 1.9780

S3: 1.9720/30

Rate finds resistance over the 100 bar MA for the second time in two days suggesting the sellers are confident selling into rallies; close under the 50 bar MA would be preferable near-term as stops are likely building for the next leg lower inside the range from last week. Active selling needed to find stops I think; more under the 197.20/30 area for size desks say. Look for continued two-way action but strong-sell signal is valid for the next 72 hours. Aggressive traders can sell GBP over the 1.9900 area.

Analysis by: written by Jason Alan Jankovsky


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