TECHNICAL ANALYSIS

EURGBP double top, returns the pair to the key break support


The swing area at 0.8956-59 seems to be tested

The EURGBP could not exceed the highest of the previous session at the level of 0.89993 (call at 0.9000). As a result, the double high has led buyers to turn to sellers, and the price is now down testing an old trend line and a key swing area (was a ceiling but now a floor.

The swing area at 0.8956-59 seems to be tested_

This area is located at 0.8956-59. A move below this support area will then have traders targeting the 100-hour moving average at 0.89222 (and moving higher). The price of the EURGBP has not changed below its moving average of 100 hours since May 11.

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