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- RES 4: 0.8595 High Nov 5 and a key resistance
- RES 3: 0.8574 High Nov 11
- RES 2: 0.8544 76.4 retracement of the Nov 5 - 22 sell-off
- RES 1: 0.8538 High Nov 30
- PRICE: 0.8520 @ 06:08 GMT Dec 2
- SUP 1: 0.8471 20-day EMA
- SUP 2: 0.8411/8381 Low Nov 26 / Low Nov 22
- SUP 3: 0.8356 Low Feb 26, 2020
- SUP 4: 0.8339 Low Feb 25, 2020
EURGBP price action has settled at the highs of this week’s range following a push higher on Tuesday. The recent recovery is still considered a correction though. Trend conditions remain bearish and the focus is on 0.8356 next, Feb 26, 2020 low. The next resistance to watch is 0.8544, a Fibonacci retracement. A break would suggest scope for a stronger recovery and expose 0.8574 initially, the Nov 11 high. First support to watch is 0.8471.