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Bearish Conditions Dominate

EURGBP TECHS
  • RES 4: 0.8797 High Feb 9
  • RES 3: 0.8731 High Feb 26 and the S/T bull trigger
  • RES 2: 0.8668 High Mar 3
  • RES 1: 0.8640 High Mar 16
  • PRICE: 0.8584 @ 17:02 GMT Mar 19
  • SUP 1: 0.8533 Low Mar 18 and bear trigger
  • SUP 2: 0.8522 Low Feb 28
  • SUP 3: 0.8489 3.0% Lower Bollinger Band
  • SUP 4: 0.8430 Low Feb 27

EURGBP traded better into the Friday close, erasing Thursday's weakness. Technical signals continue to highlight a downtrend and attention is on Wednesday's 0.8533 low. A clear break would resume the trend and expose 0.8489, a volatility based support area. On the upside, firm short-term resistance is at 0.8731, Feb 26 high. A break would allow for a stronger bounce and open 0.8797, Feb 9 high. Initial resistance is 0.8640.

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