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Watching Support

  • RES 4: 0.8553 High Feb 14
  • RES 3: 0.8498/8535 High Dec 23 / 2.0% 10-dma envelope
  • RES 2: 0.8478 High Feb 7 and a bull trigger
  • RES 1: 0.8374/8458 High Mar 22 / Mar 17 High
  • PRICE: 0.8311 @ 06:54 GMT Mar 23
  • SUP 1: 0.8296 Intraday low
  • SUP 2: 0.8278 Low Mar 7
  • SUP 3: 0.8203 Low Mar 7 and the bear trigger
  • SUP 4: 0.8131 Low Jun 27, 2016

EURGBP traded low Tuesday. This threatens the recent bullish theme and exposes support at 0.8278, the Mar 7 low. Clearance of this support would highlight a stronger reversal and expose key short-term support at 0.8203, the Mar 7 low. The cross is also trading below both the 20- and 50-day EMAs. A recovery would refocus attention on 0.8458, Mar 17 high, where a break is required to resume the recent upleg.

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