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Wild Swings Still The Order Of The Day

EURGBP TECHS
  • RES 4: 0.9287 4.0% Upper Bollinger Band
  • RES 3: 0.9265 High Sep 14
  • RES 2: 0.9229/30 2.0% 10-dma envelope / High Dec 11
  • RES 1: 0.9119 Intraday high
  • PRICE: 0.9111 @ 06:05 GMT Dec 14
  • SUP 1: 0.9060 Intraday low
  • SUP 2: 0.9008 Low Dec 10
  • SUP 3: 0.8983/84 Low Dec 4 / 9
  • SUP 4: 0.8942 Former trendline resistance drawn off the Sep 11 high

EURGBP is volatile. The cross gapped lower at the open but has already filled the gap. From a technical perspective, chart conditions remain bullish. This follows a recent break of the trendline resistance drawn off the Sep 11 high and last week's acceleration higher. Potential is seen for a climb towards the major resistance at 0.9292, Sep 11 high. On the downside, initial support is today's low of 0.9060.

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