The EURGBP moves back above key resistance turning seller to buyers (for now)

There is more work to do if the buyers are to take more control In a post yesterday, I spoke to how the EURGBP had moved below key support from the daily chart at the 50% of the trading ranges since December 2019 at 0.88788, and a key swing area between 0.88603 and 0.88766. The […]

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EURGBP Falls As Eurozone PMIs Fall & UK PMIs Rise

Eurozone PMIs Underperform The latest economic data for the Eurozone has raised serious concerns over the health of the recovery in the single customs union. Both manufacturing and services PMIS in the Eurozone undershot expectations last month. The manufacturing reading fell back to 51.7 last month from the prior month’s 51.8 reading, undershooting expectations of […]

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EURGBP has bounced off major support, potential rally!

EURGBP has bounced off major support at 0.8689 (Fibonacci extension, multiple horizontal swing low support) and it has also broke out of a recent descending resistance line signalling that we could be seeing more bullish momentum. Price could rise up to our next major resistance at 0.8847 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).Stochastic (89,5,3) […]

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