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Fresh Multiyear Lows

EURGBP TECHS
  • RES 4: 0.8465 High Dec 24
  • RES 3: 0.8428 50-day EMA
  • RES 2: 0.8419 High Jan 3
  • RES 1: 0.8379 High Jan 18 and key near-term resistance
  • PRICE: 0.8330 @ 06:23 GMT Jan 20
  • SUP 1: 0.8313 Low Jan 19, lowest since 2020
  • SUP 3: 0.8300 Base of the multi-year broad range
  • SUP 4: 0.8282/77 Low Feb’20 / Dec’19 and key bear trigger
  • SUP 4: 0.8242 50% Fibonacci Retracement 2015-2020 Upleg

EURGBP traded to a fresh multi year low of 0.8313 on Wednesday. This keeps the outlook bearish with attention on the major support and bear triggers at 0.8282/77, marking the Feb’20 and Dec’19 lows. The focus is also on the base of a broad multi-year range at 0.8300. This level represents a key pivot chart point and if cleared, would highlight an important range breakout. Initial firm resistance is at 0.8379, Tuesday’s high.

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