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EUR/GBP Breakout In Play

EUR/GBP is strongly bullish and has managed to jump above the third warning line (wl3). A valid breakout will attract more buyers, which will drive the rate towards the upper median line (UML) and towards the 0.9226 horizontal resistance. I’ve said in the previous analysis that price should take out the dynamic resistance because is attracted by the confluence area formed between the 0.9226 with the UML.

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Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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