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EURGBP fades off key supports

  • EURGBP test session high, with market participants fading some of the downside ahead of the 0.8300 level, just ahead of the key double bottom at 0.82769/0.82822.The EUR lead against the Aussie, and in the green versus the NZD, GBP, GBP, CAD and USD.
  • SEK is the early leader, up 0.31% on the EUR.
  • EURGBP resistance is at 0.8379 High Jan 18 and key near-term resistance.
  • A clear break through the latter will have market participants look at the 50d MA at 0.8434 next.
  • GBP test session low versus USD, and trades in the red versus all G10s, besides the AUD and NZD.

Chart source: Bloomberg

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