GBPUSD TECHS: Resistance Remains Intact

• RES 4: 1.3048 High Nov 6 and a key resistance
• RES 3: 1.2961 50.0% retracement of the Sep 26 - Nov 22 bear leg  
• RES 2: 1.2821 50-day EMA 
• RES 1: 1.2811 High Dec 6 
• PRICE: 1.2658 @ 16:22 GMT Dec 13 
• SUP 1: 1.2609/2487 Low Dec 13 / Low Nov 22 and the bear trigger   
• SUP 2: 1.2446 Low May 9
• SUP 3. 1.2367 76.4% retracement of the Oct 4 ‘23 - Sep 26 uptrend 
• SUP 4: 1.2300 Low Apr 22 and a key support     

GBPUSD traded lower again Friday, extending the pullback from its recent high. The trend condition remains bearish and recent gains are considered corrective. A recovery has allowed an oversold trend condition to unwind. Key resistance to monitor is 1.2821, the 50-day EMA. First support has been cleared at 1.2617, the Dec 2 low. This exposes the bear trigger at 1.2487, the Nov 22 low.