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Hovering Above Week’s Lows

EURGBP TECHS
  • RES 4: 0.8701/21 High May 7 / High Apr 26 and the bull trigger
  • RES 3: 0.8672 High May 25
  • RES 2: 0.8610/70 High Jul 22 / High Jul 20 and a key resistance
  • RES 1: 0.8580 50-day EMA
  • PRICE: 0.8506 @ 16:23 BST Aug 16
  • SUP 1: 0.8450 Low Aug 10
  • SUP 2: 0.8430 Low Feb 27, 2020
  • SUP 3: 0.8418 1.0% 10-dma envelope
  • SUP 4: 0.8277 Low Dec 13

EURGBP outlook remains weak despite the recovery late last week. The print down at 0.8450 marks the lowest level since February last year. This flags scope for losses toward vol band support at 0.8418 as well as the Feb 27, 2020 low at 0.8430. Moving average studies remain in a bear mode highlighting a downside theme. On the upside, key resistance is unchanged at 0.8670, the Jul 20 high.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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