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Probes The Bear Trigger At 0.9025

EURO-STERLING TECHS
  • RES 4: 0.9190 61.8% retracement of the Sep 11 - 28 sell-off
  • RES 3: 0.9162 High Oct 7 and the bull trigger
  • RES 2: 0.9132 High Oct 10
  • RES 1: 0.9079 High Oct 12
  • PRICE: 0.9055 @ 17:57 BST Oct 13
  • SUP 1: 0.9020 Low Oct 13
  • SUP 2: 0.9000 Round number support
  • SUP 3: 0.8967 76.4% retracement of the Sep 3 - 11 rally
  • SUP 4: 0.8808 Low May 13

EURGBP traded lower Tuesday but did find support at the day low. The recent inability to hold above trendline resistance drawn off the Sep 11 high weighs on the cross with further weakness likely near-term. Key support at 0.9025, Sep 28 low has been probed. A clear break would confirm a resumption of bearish trending conditions and open 0.8967, a retracement level. On the upside, firm resistance is at 0.9162, Oct 7 high.

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