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Precious Metals Jump As Dollar Pulls Back


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Monitoring Support

  • RES 4: 0.8624 High Oct 1
  • RES 3: 0.8595 High Nov 5 and a key resistance
  • RES 2: 0.8574 High Nov 11
  • RES 1: 0.8559 High Dec 6
  • PRICE: 0.8499 @ 16:56 GMT Dec 7
  • SUP 1: 0.8483 20-day EMA
  • SUP 2: 0.8446 Low Nov 29
  • SUP 3: 0.8411/8381 Low Nov 26 / Low Nov 22
  • SUP 4: 0.8356 Low Feb 26, 2020

EURGBP has erased Friday’s gains and has failed to hold above 0.8550. Short-term trend conditions are unchanged though and remain bullish. The recent breach of 0.8544, 76.4 of the Nov 5 - 22 sell-off suggests potential for an extension towards a key short-term resistance at 0.8595, the Nov 5 high. The broader trend signals remaining bearish though and the first support to watch is 0.8483. A clear break would signal a potential top.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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