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(F3) Corrective Pullback

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Corrective Pullback

EURGBP TECHS
  • RES 4: 0.8840 High Feb 2
  • RES 3: 0.8811 1.236 proj of the Apr 14 - Jun 15 - Aug 2 price swing
  • RES 2: 0.8721 High Jun 15 and a medium-term bull trigger
  • RES 1: 0.8679 High Jul 1
  • PRICE: 0.8594 @ 16:21 BST Sep 6
  • SUP 1: 0.8572 Low Aug 31
  • SUP 2: 0.8524 20-day EMA
  • SUP 3: 0.8496 50-day EMA
  • SUP 4:0.8408 Low Aug 23

EURGBP remains in an uptrend following last week’s gains and the latest pullback is considered corrective. The cross has recently cleared a number of short-term resistance points and attention is on 0.8679, the Jul 1 high. Clearance of this level would expose the key resistance at 0.8721, the Jun 15 high and an important bull trigger. On the downside, initial support is seen at 0.8572, the Aug 31 low.

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  • RES 4: 0.8840 High Feb 2
  • RES 3: 0.8811 1.236 proj of the Apr 14 - Jun 15 - Aug 2 price swing
  • RES 2: 0.8721 High Jun 15 and a medium-term bull trigger
  • RES 1: 0.8679 High Jul 1
  • PRICE: 0.8594 @ 16:21 BST Sep 6
  • SUP 1: 0.8572 Low Aug 31
  • SUP 2: 0.8524 20-day EMA
  • SUP 3: 0.8496 50-day EMA
  • SUP 4:0.8408 Low Aug 23

EURGBP remains in an uptrend following last week’s gains and the latest pullback is considered corrective. The cross has recently cleared a number of short-term resistance points and attention is on 0.8679, the Jul 1 high. Clearance of this level would expose the key resistance at 0.8721, the Jun 15 high and an important bull trigger. On the downside, initial support is seen at 0.8572, the Aug 31 low.