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Bullish Outlook

EURGBP TECHS
  • RES 4: 0.8553 High Dec 14 2020
  • RES 3: 0.8512 High Mar 31 and a key resistance
  • RES 2: 0.8482 2.0% 10-dma envelope
  • RES 1: 0.8441 High Apr 25
  • PRICE: 0.8424 @ 16:52 BST Apr 25
  • SUP 1: 0.8356 50-day EMA
  • SUP 2: 0.8313 Low Apr 22
  • SUP 3: 0.8250 Low Apr 14 and key short-term support
  • SUP 4: 0.8203 Low Mar 7 and the bear trigger

EURGBP traded sharply higher Friday and is holding on to its recent gains. The climb has resulted in a break of resistance at 0.8405, the Apr 11 high, which marked a key short-term resistance. Clearance of this level represents a bullish development and has also resulted in a test of 0.8435, the Apr 4 high. An extension would open 0.8512. Initial support lies at 0.8356, the 50-day EMA.

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

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