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Trend Needle Points North

EURGBP TECHS
  • RES 4: 0.8875 High Apr 25 and a key resistance
  • RES 3: 0.8835 High May 3
  • RES 2: 0.8793 61.8% retracement of the Feb 3 - Aug 23 downleg
  • RES 1: 0.8768 High Nov 20
  • PRICE: 0.8718 @ 16:26 GMT Nov 21
  • SUP 1: 0.8716 20-day EMA
  • SUP 2: 0.8683/50 50-day EMA / Low Nov 6
  • SUP 3: 0.8616 Low Oct 11 and a reversal trigger
  • SUP 4: 0.8569 Low Sep 15 and a key support

The trend outlook in EURGBP remains bullish and the cross traded to a fresh cycle high yesterday. Resistance at 0.8754, Oct 31 high, has been cleared. The break confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. The focus is on 0.8793, a Fibonacci retracement. Moving average studies are in a bull-mode position, highlighting a rising trend. Firm support is at 0.8683, the 50-day EMA.

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

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