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Through Support

EURGBP TECHS
  • RES 4: 0.8600 High Dec 8 2022
  • RES 3: 0.8512/55 High Mar 31 / 2.0% 10-dma envelope
  • RES 2: 0.8405/8435 High Apr 11 / High Apr 4
  • RES 1: 0.8370 50-day EMA
  • PRICE: 0.8261 @ 15:59 BST Apr 14
  • SUP 1: 0.8250 Low Apr 14 and a key support
  • SUP 2: 0.8203 Low Mar 7 and the bear trigger
  • SUP 3: 0.8171 2.0% 10-dma envelope
  • SUP 4: 0.8117 High Apr 7 2016

The bearish threat in EURGBP strengthened Thursday as the week’s move lower extended. The downside move took out 0.8296, the Mar 23 low as well as 0.8276, the 76.4% retracement of the Mar 7 - 31 rally. This opens losses toward 0.8203, the Mar 7 low and next bear trigger. On the upside, initial firm resistance is seen at 0.8405, Apr 11 high ahead of 0.8435, the Apr 4 high. A break of 0.8405 would represent a short-term bullish development.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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