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Free AccessTops 50-Day EMA
- RES 4: 0.8731 High Feb 26
- RES 3: 0.8716 2.0% 10-dma envelope
- RES 2: 0.8705 High Mar 1
- RES 1: 0.8677 High Apr 8
- PRICE: 0.8673 @ 18:07 GMT Apr 8
- SUP 1: 0.8574 20-day EMA
- SUP 2: 0.8472 Low Apr 5 and the bear trigger
- SUP 3: 0.8445 3.0% Lower Bollinger Band
- SUP 4: 0.8430 Low Feb 27, 2020
EURGBP maintains this week's bullish theme following a recovery Tuesday and Wednesday. In pattern terms, Tuesday is a bullish engulfing candle and suggests the cross has entered a corrective cycle. Recent gains have now seen prices top the key resistance at 0.8646, Mar 24 high and the 50-day EMA at 0.8654. A clear break of this resistance zone is required to suggest scope for an extension of the correction. Initial support is at 0.8574.
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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.