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Key Support Remains Exposed

EURGBP TECHS
  • RES 4: 0.9093 High Dec 29
  • RES 3: 0.9085 High Jan 6
  • RES 2: 0.8996/98 High Jan 12 / 50-day EMA
  • RES 1: 0.8937 High Jan 13
  • PRICE: 0.8892 @ 05:55 GMT Jan 20
  • SUP 1: 0.8867/66 Low Nov 23 / Low Jan 15 and key support
  • SUP 2: 0.8861 Low Nov 11 and a bear trigger
  • SUP 3: 0.8784 2.0% 10-dma envelope
  • SUP 4: 0.8759 Low May 12, 2020

EURGBP is consolidating. The cross maintains a weaker tone and remains closer to recent lows. Last week's breach of support at 0.8932, Dec 31 low still weighs on the pair. Attention is on 0.8867, Nov 23 low that was briefly probed on Jan 15. Clearance of 0.8867 and 0.8861, Nov 11 low would represent an important technical break. On the upside, key short-term resistance has been defined at 0.9085, Jan 6 high. Initial resistance though is at 0.8937, Jan 13 high.

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