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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play

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Bearish Focus

  • 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: 0.8558 @ 06:08 GMT Mar 26
  • 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, 2020

EURGBP found resistance yesterday ending the recent climb and potentially signalling the end of a correction. Trend signals continue to highlight a downtrend and attention is on the bear trigger at 0.8533. A break would resume the trend and expose 0.8489, a volatility based support. Firm 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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