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Bears Pause For Breath

EURGBP TECHS
  • RES 4: 0.8627 High Jul 4
  • RES 3: 0.8585 High Jul 21 and a key resistance
  • RES 2: 0.8492 50-day EMA
  • RES 1: 0.8426/65 High Jul 27 / 20-day EMA
  • PRICE: 0.8349 @ 16:40 BST Aug 2
  • SUP 1: 0.8346 Low Jul 28 / Aug 02
  • SUP 2: 0.8313 Low Apr 22
  • SUP 3: 0.8291 2.0% 10-dma envelope
  • SUP 4: 0.8250 Low Apr 14 and a key support

EURGBP traded lower into the Tuesday close. The sharp drop last week reinforces bearish conditions and the latest spell of weakness has also resulted in a print below 0.8367, the May 2 low. An extension lower would open 0.8313 next, the Apr 22 low. The Jul 21 high of 0.8585 has been defined as a key short-term resistance where a break is required to reinstate a bullish theme. Initial firm resistance to watch is at 0.8465, the 20-day EMA.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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