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Resend: Bearish Trend Sequence Extends

EURGBP TECHS
  • RES 4: 0.9149 Oct 20 high
  • RES 3: 0.9107 High Oct 23
  • RES 2: 0.9058 50-day EMA
  • RES 1: 0.9025 High Nov 3
  • PRICE: 0.8976 @ 06:06 GMT Nov 3
  • SUP 1: 0.8946 Intraday low
  • SUP 2: 0.8924 Low Sep 7
  • SUP 3: 0.8900 Low Sep 4
  • SUP 4: 0.8866 Low Sep 11 and a major support

EURGBP traded lower overnight confirming an extension of the current downtrend. The cross has cleared 0.8967, 76.4% retracement of the Sep 3 - 11 rally and attention turns to 0.8900 ahead of the key support at 0.8866, Sep 3 low. The break lower overnight maintains the current bearish price sequence of lower lows and lower highs that defines a downtrend. On the upside, initial firm resistance is seen at 0.9058, the 50-day EMA.

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