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Free AccessHolding On To Its Recent Gains
- RES 4: 0.8907 50.0% retracement of the Sep 26 - Dec 1 bear leg
- RES 3: 0.8867 High Oct 12
- RES 2: 0.8829 High Nov 09 and the bull trigger
- RES 1: 0.8776 High Nov 16
- PRICE: 0.8729 @ 06:54 GMT Dec 20
- SUP 1: 0.8661/8593 50-day EMA / Low Dec 15
- SUP 2: 0.8556/47 200-dma / Low Dec 1 and bear trigger
- SUP 3: 0.8522 Low Aug 30
- SUP 4: 0.8471 Low Aug 28
EURGBP is unchanged and the cross is consolidating. Price rallied sharply higher last Thursday and in the process cleared the 50-day EMA at 0.8661. The break higher has improved the short-term outlook for bulls and signals scope for a climb towards resistance at 0.8829, the Nov 9 high and a bull trigger. On the downside, key support has been defined at 0.8547, the Dec 1 low, where a break is required to signal a continuation of the downtrend.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.