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Needle Still Points North

EURGBP TECHS
  • RES 4: 0.8670 High Jul 20 and key resistance
  • RES 3: 0.8659 High Jul 21
  • RES 2: 0.8618 76.4% retracement of the Jul 20 - Aug 10 sell-off
  • RES 1: 0.8614 High Sep 07
  • PRICE: 0.8592 @ 16:37 BST Sep 8
  • SUP 1: 0.8563/43 Low Sep 3 / Low Aug 24
  • SUP 2: 0.8506 Low Jul 19
  • SUP 3: 0.8484 Low Aug 16
  • SUP 4: 0.8450 Low Aug 10 and a key support

EURGBP traded to new weekly highs Tuesday and maintains a positive short-term tone. The cross has recently cleared the 20- and 50-day EMAs and remains above both averages. Furthermore, the 100-dma has also been cleared, strengthening a bullish case. The focus is on 0.8618 next, a Fibonacci retracement. On the downside, key short-term support has been defined at 0.8543, Aug 24 low. Initial support is at 0.8562, Sep 3 low.

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

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