“¢ The up-move once again failed ahead of the 0.8800 handle, coinciding with a descending trend-channel resistance on 4-hourly charts.
“¢ Short-term technical indicators remain mixed, suggesting a continuation of choppy trading within a broader range.
“¢ Reemerging Brexit risks could be the next big catalyst providing the required momentum to decisively break through the trend-channel.
Spot Rate: 0.8780
Daily High: 0.8794
Daily Low: 0.8774
Trend: Neutral
Resistance
R1: 0.8799 (descending trend-channel resistance)
R2: 0.8821 (R2 daily pivot-point)
R3: 0.8842 (May monthly swing high)
Support
S1: 0.8762 (50-period SMA H1)
S2: 0.8748 (S1 daily pivot-point)
S3: 0.8724 (weekly swing low)
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