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Strong Rally

EURGBP TECHS
  • RES 4: 0.8658 High Sep 29 and key resistance
  • RES 3: 0.8624 High Oct 1
  • RES 2: 0.8598 76.4% retracement of the Sep 29 - Oct 26 sell-off
  • RES 1: 0.8565 High Nov 4
  • PRICE: 0.8560 @ 21:05 GMT Nov 4
  • SUP 1: 0.8463/41 Low Nov 3 / Low Nov 1 /
  • SUP 2: 0.8403 Low Oct 26 and the bear trigger
  • SUP 3: 0.8375/56 1.0% 10-dma envelope / Low Feb 26, 2020
  • SUP 4: 0.8339 Low Feb 25, 2020

EURGBP bids returned Thursday and the cross traded sharply higher, clearing Tuesday's 0.8514 high . The break higher highlights a breach of the 50-day EMA at 0.8507. A clear break of this EMA further improves short-term conditions for bulls and signals scope for an extension. 0.8561, 61.8% of the Sep 29 - Oct 26 sell-off, has been probed. A break would open 0.8598, the 76.4% retracement. Initial support lies Thursday's intraday low of 0.8463.

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