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Attention Is On The Bear Trigger

EURGBP TECHS
  • RES 4: 0.8797 High Feb 9
  • RES 3: 0.8731 High Feb 26 and the S/T reversal trigger
  • RES 2: 0.8668 High Mar 3
  • RES 1: 0.8646 High Mar 24
  • PRICE: 0.8554 @ 06:22 GMT Mar 29
  • SUP 1: 0.8533 Low Mar 18 and bear trigger
  • SUP 2: 0.8522 Low Feb 28
  • SUP 3: 0.8495 3.0% Lower Bollinger Band
  • SUP 4: 0.8430 Low Feb 27, 2020

Recent EURGBP gains found resistance at 0.8646, Mar 24 high, The outlook remains bearish. Trend signals continue to highlight a downtrend and attention is on the bear trigger at 0.8533, Mar 18 low. A break would resume the trend and expose 0.8495, a volatility based support. Firm trend resistance is at 0.8731, Feb 26 high. A breach of this hurdle is needed to signal a short-term reversal.

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