GBPUSD TECHS: Sell-Off Reinforces Current Bear Theme

* RES 4: 1.3599 High Aug 28 * RES 3: 1.3568 High Sep 9 * RES 2: 1.3469 50-day EMA * RES 1: 1.3406 High Sep 17 * PRICE: 1.1056 @ 10:57 BST Sep 23 * SUP 1: 1.3274 Low Jul 28 * SUP 2: 1.3266 76.4% retracement of the Jun 24 - Aug 21 bull leg * SUP 3: 1.3219 Low Jul 1 * SUP 4: 1.3140 Low Jun 24 and a key M/T support A sharp sell-off today in GBPUSD reinforces the current bear theme. The pair continues to retrace the bull cycle between Jun 24 and Aug 21 and sights are on 1.3266, the 76.4% retracement point of the bull cycle. A clear break of this level would further strengthen the current bear cycle and signal scope for a move towards 1.3140, the Jun 24 low and a key support. On the upside, initial firm resistance is seen at 1.3469, the 50-day EMA.