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RfP Sent To Banks


Energy Rebounds, Metals Don't

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  • RES 4: 0.8840 High Feb 4
  • RES 3: 0.8791/8857 High Feb 12 / 2.0% 10-dma envelope
  • RES 2: 0.8731 High Feb 26
  • RES 1: 0.8701/21 High MAy 7 / High Apr 26 and the bull Trigger
  • PRICE: 0.8613 @ 14:51 BST May 10
  • SUP 1: 0.8596 Intraday low
  • SUP 2: 0.8589 Low Apr 19 and a key support
  • SUP 3: 0.8472 Low Apr 5 and the bear trigger
  • SUP 4: 0.8430 Low Feb 27, 2020

EURGBP has started this week on a bearish note and is trading sharply lower. Attention turns to support at 0.8589, Apr 19 low where a break would see the cross move out of its recent range and confirm a bearish breakout. This would suggest scope for a deeper pullback, potentially towards the key support at 0.8472, Apr 5 low. The key resistance and bull trigger is unchanged at 0.8721.

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