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Doji Candle Highlights Reversal

EURO-STERLING TECHS
  • RES 4: 0.9292 High Sep 11 and the bull trigger
  • RES 3: 0.9220 High Sep 22 and a key near-term resistance
  • RES 2: 0.9181 High Sep 24
  • RES 1: 0.9169 High Sep 25
  • PRICE: 0.9139 @ 05:57 BST Sep 30
  • SUP 1: 0.9062 Low Sep 29
  • SUP 2: 0.9025 Low Sep 28 and the bear trigger
  • SUP 3: 0.9000 Round number support
  • SUP 4: 0.8967 76.4% retracement of the Sep 3 - 11 rally

EURGBP traded sharply lower Monday but has since recovered and the cross has defined a key S/T support at 0.9025, Monday's low. Yesterday's break of 0.9126 highlights a reversal pattern we alluded to yesterday. Monday's session was a doji candle highlighting a potential reversal of the sell-off between Sep 11 - 28. Further gains would open 0.9220, Sep 22 high. A break of support at 0.9025 is required to reinstate a bearish threat.

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