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Attention Is On The 20-day EMA

  • RES 4: 0.8815 50-day EMA
  • RES 3: 0.8797 High Feb 9
  • RES 2: 0.8739 Low Feb 5
  • RES 1: 0.8731 High Feb 26 and the short-term bull trigger
  • PRICE: 0.8658 @ 06:08 GMT Mar 2
  • SUP 1: 0.8597 Low Feb 26
  • SUP 2: 0.8541 Low Feb 24 and the bear trigger
  • SUP 3: 0.8521 3.0% Lower Bollinger Band
  • SUP 4: 0.8483 2.0% 10-dma Envelope

EURGBP started the week on a softer note following Friday's failure to clear resistance highlighted by the 20-day EMA, today at 0.8713. Technical signals continue to register a bearish trend and further weakness would open 0.8597, Feb 26 low ahead of the bear trigger at 0.8541, Feb 24 low. On the upside, a move above Friday's high of 0.8731, would signal a resumption of the corrective bounce and this would expose the 50-day EMA at 0.8815.

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