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Edging Higher

EURGBP TECHS
  • RES 4: 0.8610 High Jul 22
  • RES 3: 0.8592 100-dma
  • RES 2: 0.8585 High Jul 23
  • RES 1: 0.8558/59 High Aug 2 / 19 and a key S/T resistance
  • PRICE: 0.8553 @ 17:05 BST Aug 19
  • SUP 1: 0.8484/50 Low Aug 16 / Low Aug 10 and the bear trigger
  • SUP 2: 0.8430 Low Feb 27, 2020
  • SUP 3: 0.8407 1.0% 10-dma envelope
  • SUP 4: 0.8356 Low Feb 26, 2020

EURGBP is edging higher and building on recent gains. The cross has topped the 50-day EMA at 0.8547, opening gains toward the 100-dma at 0.8592. Despite this, the trend perspective remains bearish. The recent print down at 0.8450 marks the lowest level since February last year and signals scope for an extension toward the Feb 27, 2020 low at 0.8430 and vol band support at 0.8407. Key near-term resistance is 0.8558, Aug 2 high.

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