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EUR/GBP establishing fresh highs at 0.8540/44

FXstreet.com (Barcelona) - The EUR/GBP is presently establishing fresh session highs Tuesday, albeit only modest positive gains after spending much of the overnight session entrenched in negative territory.

In these moments, the pair is trading at 0.8540/44, or +0.07% above it’s opening. Should the gains continue on course, Mataf.net analysts identify the next short-term resistances at 0.8552, then 0.0.8578, and finally 0.8603. Meanwhile, support lies at 0.8501, ahead of 0.8476, and 0.8450.

According to the Technical Analyst Team at ICN.com, “The EURGBP extended its losses yesterday towards 0.8500 key support level and our suggested re-entry level, where we look for price to resume the overall bullish breakout of the wedge pattern. Accordingly, we maintain our bullish stance.”

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