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Remains Above Support

EURGBP TECHS
  • RES 4: 0.8658 High Sep 29 2021
  • RES 3: 0.8643 High Sep 30 2021
  • RES 2: 0.8619 High May 12 and bull trigger
  • RES 1: 0.8587 High May 24
  • PRICE: 0.8510 @ 15:26 BST May 31
  • SUP 1: 0.8485/8433 20-day EMA / Low May 23
  • SUP 2: 0.8393/ 0.8391 Low May 17 / 61.8% of Apr 14 - May 12 upleg
  • SUP 3: 0.8367 Low May 2
  • SUP 4: 0.8337 76.4% retracement of the Apr 14 - May 12 upleg

EURGBP maintains a positive theme and is holding above initial support. The break higher on May 24 reinstated a short-term bullish theme and has exposed 0.8619, May 12 high and the next hurdle for bulls. Clearance of this level would resume a 3.5 month uptrend. Initial support lies at 0.8485, the 20-day EMA ahead of a firmer short-term level at 0.8433, the May 23 low. Key short-term support lies at 0.8393, the May 17 low and is a bear trigger.

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