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Strong Rally

EURGBP TECHS
  • RES 4: 0.8512 High Mar 31
  • RES 3: 0.8476 2.0% 10-dma envelope
  • RES 2: 0.8435 High Apr 4
  • RES 1: 0.8410 High Apr 22 and key near-term resistance
  • PRICE: 0.8402 @ 14:02 BST Apr 22
  • SUP 1: 0.8313/50 Low Apr 22 / Low Apr 14 and key S/T support
  • SUP 2: 0.8203 Low Mar 7 and the bear trigger
  • SUP 3: 0.8144 2.0% 10-dma envelope
  • SUP 4: 0.8117 High Apr 7 2016

EURGBP held on to Friday’s strong gains into the close. The recovery this week is threatening the recent bearish theme. The cross briefly topped resistance at 0.8405, the Apr 11 high, which marks key short-term resistance. Clearance of this level would represent a bullish development and open 0.8435, the Apr 4 high, and above. Friday’s intraday low of 0.8313, Apr 22 low, marks the initial support. Ket support lies at 0.8250, Apr 14 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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