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EURGBP Is Approaching A Major Range Base

  • A bearish EURGBP cycle has dominated this year as the cross weakens within a broad range.
  • This range is defined by its peak at 0.9300 and a base at the 0.8300 handle.
  • The cross last traded at the top of the range in 2020 and as is typical with ranges, the trend since has been down.

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