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Intraday Support Exposed

EURGBP TECHS
  • RES 4: 0.8658 High Sep 29 and key resistance
  • RES 3: 0.8624 High Oct 1
  • RES 2: 0.8595/98 High Nov 5 / 76.4% of the Sep 29 - Oct 26 sell-off
  • RES 1: 0.8538/74 High Nov 15 / High Nov 11
  • PRICE: 0.8478 @ 06:22 GMT Nov 16
  • SUP 1: 0.8463 Low Nov 3 and a key intraday support
  • SUP 2: 0.8441 Low Low Nov 1
  • SUP 3: 0.8403 Low Oct 26 and the bear trigger
  • SUP 4: 0.8356 Low Feb 26, 2020

EURGBP has failed to hold onto recent highs and the cross has traded back below the 50-day EMA support, threatening the recent bullish short-term outlook. The move lower has exposed support at 0.8463, Nov 3 low. A break of this level would signal scope for a deeper sell-off and open the key support at 0.8403, the Oct 26 low. The cross needs to trade above yesterday's high to ease this fresh bearish threat. Key resistance is at 0.8595, Nov 5 high.

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