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Free AccessShort-Term Trend Needle Points North
- RES 4: 0.8749 50.0% retracement of the Feb 3 - Jun 19 downleg
- RES 3: 0.8719 High May 23
- RES 2: 0.8702 100-dma
- RES 1: 0.8701 High Jul 19 and key short-term resistance
- PRICE: 0.8641 @ 06:38 BST Jul 24
- SUP 1: 0.8621 50-day EMA
- SUP 2: 0.8597 20-day EMA
- SUP 3: 0.8564 Low Jul 17
- SUP 4: 0.8504 Low Jul 11 and key support
EURGBP remains in a short-term uptrend following recent strong gains and momentum is pointed higher for now, signalling scope for an extension towards the 100-dma of 0.8702 and congestion resistance at 0.8719, the May 23 high. Initial firm support is seen at 0.8597, the 20-day EMA. A move through this average would instead highlight a top and expose key support at 0.8504, the Jul 11 low.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.