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Corrective Gains

EURGBP TECHS
  • 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: 0.8640 High Mar 16
  • PRICE: 0.8621 @ 06:02 GMT Mar 23
  • SUP 1: 0.8533 Low Mar 18 and bear trigger
  • SUP 2: 0.8522 Low Feb 28
  • SUP 3: 0.8488 3.0% Lower Bollinger Band
  • SUP 4: 0.8430 Low Feb 27

EURGBP is firmer and pulling away from last week's lows. Gains are considered corrective and the outlook remains bearish. Trend signals still a downtrend and attention is on 0.8533, Mar 18 low and the bear trigger. A clear break would resume the trend and expose 0.8488, a volatility based support area. Firm resistance is at 0.8731, Feb 26 high. A break would signal a S/T reversal and open 0.8797, Feb 9 high. Initial resistance is 0.8640.

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