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Holding Above Last Week’s Low

EURGBP TECHS
  • RES 4: 0.8658 High Sep 29 and a key resistance
  • RES 3: 0.8624 High Oct 1
  • RES 2: 0.8553/8600 High Dec 10 and 14 / High Dec 8
  • RES 1: 0.8528 High Dec 15 / 16 / 17
  • PRICE: 0.8511 @ 06:22 GMT Dec 20
  • SUP 1: 0.8454 Low Dec 16
  • SUP 2: 0.8411 Low Nov 26
  • SUP 3: 0.8381 Low Nov 22 and the bear trigger
  • SUP 4: 0.8356 Low Feb 26, 2020

EURGBP sold off sharply Dec 16 before rebounding from the session low of 0.8454. Support at 0.8486 has been cleared, Dec 15 low. This signals a potential strengthening of short-term bearish pressure and further weakness would open 0.8411, Nov 26 low and the key support at 0.8381, Nov 22 low. Initial firm resistance is seen at the 0.8553 level, the Dec 10 / 14 high. Clearance of this resistance would reinstate the recent bullish focus.

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