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Approaching Key Support

EURGBP TECHS
  • RES 4: 0.9265 High Sep 14
  • RES 3: 0.9230/54 High Dec 11 / 2.0% 10-dma envelope
  • RES 2: 0.9218 High Dec 21
  • RES 1: 0.9112 High Dec 23
  • PRICE: 0.9003 @ 06:00 GMT Dec 24
  • SUP 1: 0.8987/83 1.0% 10-dma env / Low Dec 4 / 17 and key support
  • SUP 2: 0.8952 76.4% retracement of the Nov 23 - Dec 11 rally
  • SUP 3: 0.8929 Low Dec 1
  • SUP 4: 0.8867 Low Nov 23 and a key support

EURGBP has reacted to the latest Brexit headlines and Sterling is benefitting. The cross is trading sharply lower and approaching 0.9000 and the key support at 0.8983, Dec 4 / 7 low. A break of this latter level is required to highlight a more significant reversal on the chart and would open 0.8952, a retracement level ahead of 0.8929, Dec 1 low. Initial resistance is yesterday's intraday high of 0.9112.

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