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Clears Recent Highs

EURGBP TECHS
  • RES 4: 0.8992 1.382 proj of the Apr 14 - Jun 15 - Aug 2 price swing
  • RES 3: 0.8923 1.236 proj of the Apr 14 - Jun 15 - Aug 2 price swing
  • RES 2: 0.8852 50.0% retracement of the 2020 - 2022 downleg
  • RES 1: 0.8850 Intraday high
  • PRICE: 0.8837 @ 12:16 BST Sep 23
  • SUP 1: 0.8692 Low Sep 22
  • SUP 2: 0.8663 20-day EMA
  • SUP 3: 0.8581 50-day EMA
  • SUP 4: 0.8522 Low Aug 30

EURGBPhas cleared recent highs and confirmed a resumption of the broader uptrend. The break reinforces bullish conditions and maintains the positive price sequence of higher highs and lows. Note that moving average studies are in a bull mode position, highlighting current market conditions. The focus is on 0.8852, 50.0% retracement of the 2020 - 2022 downleg. Firm short-term trend support has been defined at 0.8692, Thursday’s low.

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