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EURGBP - Pivotal Resistance -.........>

EURO-STERLING: EURGBP - Pivotal Resistance
- EURGBP rallied for 14 straight sessions in May, before topping out at 0.8850.
- This level has so far proved hard to overcome with pivotal resistance off the
Jan 3 high capping gains. Failure to break could show signs of bullish
exhaustion, triggering a short-term reversal.
- EURGBP is currently charting a Doji candle which is a sign of indecision and
normally seen at the top/bottom of trends. Technical indicators such as MACD &
RSI are also generating overbought conditions.
- EURGBP currently rests on channel base support with bears looking for a close
below here and the 0.8800 level, before challenging the 200-dma at 0.8788.

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