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Clears Key Resistance

  • RES 4: 0.8852 50.0% retracement of the Mar ‘20 - Mar ‘22 bear leg
  • RES 3: 0.8761 1.00 proj of the Apr 14 - May 12 - 17 price swing
  • RES 2: 0.8721 High May 26 2021
  • RES 1: 0.8716 High Jun 14
  • PRICE: 0.8691 @ 06:17 BST Jun 15
  • SUP 1: 0.8619/8520 High May 12 / 20-day EMA
  • SUP 2: 0.8482 50-day EMA
  • SUP 3: 0.8433 Low May 23
  • SUP 4: 0.8393 Low May 17 and a key support

EURGBP remains firm. The cross traded higher Tuesday and in the process cleared resistance at 0.8619, the May 12 high and an important short-term bull trigger. The break reinforces bullish conditions and has confirmed a resumption of the underlying uptrend. The focus is on a climb towards 0.8721 next, the Apr 26 high. On the downside, initial firm support is seen at 0.8535, the 20-day EMA.

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