EURGBP TECHS: Reversal Of Recent Correction
Apr-03 13:10
- RES 4: 0.8494 High Aug 26 ‘24
- RES 3: 0.8474 High Jan 20 and a key resistance
- RES 2: 0.8450 High Mar 11 and the bull trigger
- RES 1: 0.8441 Intraday high
- PRICE: 0.8428 @ 14:09 BST Apr 3
- SUP 1: 0.8359 20-day EMA
- SUP 2: 0.8316 Low Mar 28 and a key near-term support
- SUP 3: 0.8291 76.4% retracement of the Mar 3 - 11 bull leg
- SUP 4: 0.8251 Low Mar 4
EURGBP is trading in a volatile manner and has also traded sharply higher today. The rally confirms a reversal of the Mar 11 - 28 correction and also potentially highlights a resumption of the uptrend. The next key short-term resistance is 0.8450, the Mar 11 high. Clearance of this hurdle would strengthen a bullish condition and open 0.8474, the Jan 20 high. Initial support is seen at 0.8359, the 20-day EMA.
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