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Sharp Sell-Off

EURGBP TECHS
  • RES 4: 0.8670 High Jul 20 and key resistance
  • RES 3: 0.8659 High Jul 21
  • RES 2: 0.8618 76.4% retracement of the Jul 20 - Aug 10 sell-off
  • RES 1: 0.8614 High Sep 07
  • PRICE: 0.8536 @ 15:22 BST Sep 10
  • SUP 1: 0.8520 Low Sep 10
  • SUP 2: 0.8506 Low Jul 19
  • SUP 3: 0.8484 Low Aug 16
  • SUP 4: 0.8450 Low Aug 10 and the bear trigger

EURGBP traded sharply lower Thursday, tilting the near-term outlook negative. Key short-term support at 0.8543, Aug 24 low, gave way, opening losses toward 0.8506 and 0.8484 further out, the Jul 19 and Aug 16 lows respectively. Thursday's weakness has defined a key short-term resistance at 0.8614, the Sep 7 high where a break is required to reinstate a bullish theme.

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