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Heads South

EURGBP TECHS
  • RES 4: 0.8925 High Mar 7 and a key resistance
  • RES 3: 0.8890 High Mar 10
  • RES 2: 0.8844 Intraday high
  • RES 1: 0.8836 Low Mar 14
  • PRICE: 0.8831 @ 13:10 GMT Mar 15
  • SUP 1: 0.8722 Low Jan 19 and a key support
  • SUP 2: 0.8712 61.8% retracement of the Dec 1 - Feb 3 bull leg
  • SUP 3: 0.8691 Low Dec 19
  • SUP 4: 0.8649 76.4% retracement of the Dec 1 - Feb 3 bull leg

EURGBP is trading lower today marking an extension of the pullback from 0.8925, the Mar 7 high. The cross has breached support at 0.8755, the Feb 28 low and this clears the way for weakness towards 0.8722 next, the Jan 19 low. Clearance of this level would leave the 0.8700 handle exposed. On the upside, initial firm resistance is seen at today’s high of 0.8844. A break of this resistance is required to ease bearish pressure.

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