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Support Remains Intact

EURGBP TECHS
  • RES 4: 0.8992 61.8% Retracement of the Sep 26 - Dec 1 bear leg
  • RES 3: 0.8980 High Sep 29
  • RES 2: 0.8907 50.0% retracement of the Sep 26 - Dec 1 bear leg
  • RES 1: 0.8852/97 High Jan 25 / 13 and the bull trigger
  • PRICE: 0.8804 @ 06:26 GMT Jan 26
  • SUP 1: 0.8767/22 Low Jan 24 / 19
  • SUP 2: 0.8691 Low Dec 19
  • SUP 3: 0.8630 76.4% retracement of the Dec 1 - Jan 13 bull cycle
  • SUP 4: 0.8593 Low Dec 15

EURGBP traded higher Tuesday and the cross remains above support. A continuation higher would expose resistance at 0.8897, the Jan 13 high and a bull trigger. Clearance of this level would cancel a recent bearish threat and instead resume the uptrend that started early December. On the downside, key support has been defined at 0.8722, the Jan 19 low. A break of this level would reinstate a bearish threat.

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