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EUR/GBP - Lack Of Follow-Through

EUR/GBP is riding short-term downtrend channel. Hourly support can be found at 0.8304 (05/12/2016 low) while hourly resistance is implied by the upper bound of the downtrend channel.

In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading far above from its 200 DMA. Strong resistance can be found at 0.9500 psychological level.

Daily Technical Report

 

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