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Resistance Remains Intact

EURGBP TECHS
  • RES 4: 0.8658 High Sep 29 and a key resistance
  • RES 3: 0.8624 High Oct 1
  • RES 2: 0.8600 High Dec 8 and the bull trigger
  • RES 1: 0.8553 High Dec 10 / 14 and key near-term resistance
  • PRICE: 0.8509 @ 06:25 GMT Dec 22
  • SUP 1: 0.8485/54 Low Dec 20 / Low Dec 16
  • SUP 2: 0.8411 Low Nov 26
  • SUP 3: 0.8381 Low Nov 22 and the bear trigger
  • SUP 4: 0.8356 Low Feb 26, 2020

EURGBP traded lower Dec 16 but has rebounded from that day’s low of 0.8454. Support at 0.8486 has recently been cleared, the Dec 15 low and this highlights a potential bearish threat. Further weakness would open 0.8411, Nov 26 low and the key support at 0.8381, Nov 22 low. Initial firm resistance is at 0.8553, Dec 10 / 14 high. Clearance of this level would reinstate the recent bullish theme.

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