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Trading Closer To Its Recent Highs

  • RES 4: 0.8658 High Sep 29 2021
  • RES 3: 0.8643 High Sep 30 2021
  • RES 2: 0.8619 High May 12 and bull trigger
  • RES 1: 0.8594 High Jun 13
  • PRICE: 0.85761@ 06:47 BST Jun 14
  • SUP 1: 0.8474/8433 50-day EMA / Low May 23
  • SUP 2: 0.8393/91 Low May 17 / 61.8% of Apr 14 - May 12 upleg
  • SUP 3: 0.8367 Low May 2
  • SUP 4: 0.8337 76.4% retracement of the Apr 14 - May 12 upleg

EURGBP is trading closer to its recent highs and the cross remains above support at last week’s low of 0.8486. The recovery from the May 17 low of 0.8393, highlights a bullish theme and signals scope for gains to 0.8619, May 12 high and a key hurdle for bulls. Moving average studies are in a bull mode and a break of 0.8619 would resume the uptrend that started Mar 7. Key S/T support is unchanged at 0.8393, May 17 low. A break would be bearish.

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