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EUR/GBP Technical Analysis: Bulls try to save the uptrend at lower end of the channel

  • EUR/GBP bull trend is taking a breather as the market is trading down for the second consecutive day.
  • EUR/GBP is trying to find some support at the 4-hour 200-period simple moving average and the bull trendline (blue dots) from June 21 near the 0.8940 support.  
  • Bulls need to keep the market above 0.8940 support in order to keep the bullish bias.

EUR/GBP 4-hour chart

Spot rate:                0.8961
Relative change:     -0.28%      
High:                       0.8992
Low:                        0.8953

Main Trend:            Bullish

Resistance 1:         0.8965 supply/demand level
Resistance 2:         0.9000 figure
Resistance 3:         0.9032 former 2018 high
Resistance 4:         0.9048 current 2018 high
Resistance 5:         0.9056 August 13, 2017 low
Resistance 6:         0.9100 figure
Resistance 7:         0.9121 September 10, 2017 high
Resistance 8:         0.9171 September 8, 2017 open

Support 1:              0.8940 August 14 high
Support 2:              0.8900 July 9 high
Support 3:              0.8868, 13 July high
Support 4:              0.8840 supply level

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