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Remains Volatile

EURGBP TECHS
  • RES 4: 0.9292 High Sep 11 and major resistance
  • RES 3: 0.9265 High Sep 14
  • RES 2: 0.9230/54 High Dec 11 / 2.0% 10-dma envelope
  • RES 1: 0.9218 High Dec 21
  • PRICE: 0.9124 @ 05:55 GMT Dec 22
  • SUP 1: 0.9070 Low Dec 21
  • SUP 2: 0.9040 20-day EMA
  • SUP 3: 0.8982/83 1.0% 10-dma env / Low Dec 4 / 17 and key support
  • SUP 4: 0.8952 76.4% retracement of the Nov 23 - Dec 11 rally

EURGBP was volatile yesterday and with Sterling under pressure Monday, the cross rallied before stalling at 0.9218. Attention is on key resistance at 0.9230, Dec 11 high where a break would reinforce underlying bullish conditions and this would open 0.9292, the Sep 11 high. The cross is likely to remain volatile, initial support is at Monday's low of 0.9070. The key pivot support remains 0.8983, Dec 4 / 17 low. A break would be bearish.

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