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Bullish Outlook

EURGBP TECHS
  • RES 4: 0.8600 High Dec 8 2021
  • RES 3: 0.8553 High Dec 14 2020
  • RES 2: 0.8512/28 High Mar 31 / 2.0% 10-dma envelope
  • RES 1: 0.8468 High Apr 27
  • PRICE: 0.8390 @ 16:52 BST Apr 29
  • SUP 1: 0.8383/8367 Low Apr 28 / 50-day EMA
  • SUP 2: 0.8313 Low Apr 22
  • SUP 3: 0.8250 Low Apr 14 and key short-term support
  • SUP 4: 0.8203 Low Mar 7 and the bear trigger

EURGBP is trading closer to its recent highs and maintains a firmer tone. The recent rally resulted in a break of resistance at 0.8405, the Apr 11 high and a key short-term resistance. The break of this level still highlights a bullish development and has also resulted in a move above 0.8435, the Apr 4 high. An extension would open 0.8512. Initial firm support to watch lies at 0.8367, the 50-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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