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Fresh Multiyear Lows Once Again

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: 0.8317 @ 20:32 GMT Jan 20
  • SUP 1: 0.8305 Low Jan 20, 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 multiyear low of 0.8305 on Thursday This reinforces the current bearish theme 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.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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