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EURGBP TECHS
  • RES 4: 0.8670 High Jul 20 and key resistance
  • RES 3: 0.8659 High Jul 21
  • RES 2: 0.8618 76.4% retracement of the Jul 20 - Aug 10 sell-off
  • RES 1: 0.8614 High Sep 07
  • PRICE: 0.8544 @ 18:21 BST Sep 9
  • SUP 1: 0.8524 Low Sep 9
  • SUP 2: 0.8506 Low Jul 19
  • SUP 3: 0.8484 Low Aug 16
  • SUP 4: 0.8450 Low Aug 10 and a key support

EURGBP extended the lower end of the recent range Thursday, tilting the near-term outlook negative. Key short-term support at 0.8543, Aug 24 low, gave way, opening losses toward 0.8506 and 0.8484 further out. Move comes despite recently clearing the 20- and 50-day EMAs. Markets need to retake the 100-dma to solidify the outlook, opening 0.8618 next, a Fibonacci retracement.

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