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    HomeContributorsTechnical AnalysisTechnical Outlook: EURGBP Extends Weakness On Reversal Signal

    Technical Outlook: EURGBP Extends Weakness On Reversal Signal

    The pair remains in red on Friday and extends pullback from Wednesday high at 0.8845.

    Completion of Doji reversal pattern signals further downside.

    Fresh bears are pressuring strong support at 0.8765 (Fibo 61.8% of 0.8719/0.8845 upleg / bull-trendline off 0.8383 low), with break and close below here to generate another strong bearish signal for possible retest of key near-term support at 0.8719 (16 June trough).

    Broken 10SMA (0.8788) now acts as strong resistance which is expected to cap and maintain bearish pressure.

    Res: 0.8788, 0.8828, 0.8845, 0.8865
    Sup: 0.8765, 0.8738, 0.8719, 0.8681

    Windsor Brokers Ltd
    Windsor Brokers Ltdhttp://www.windsorbrokers.com/
    The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

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