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EUR/GBP getting as good as it gives

FXStreet (Guatemala) - EUR/GBP is trading at 0.8006, down -0.16% on the day, having posted a daily high at 0.8041 and low at 0.7989.

EUR/GBP took a hit on the back of a less dovish BoE set of minutes and took out the 0.80 handle to the downside, albeit finding buyers there and we see the pair now changing hands back onto the handle ahead of the FOMC minutes.

The danger signs here however are that the support line has been penetrated and the move back onto the handle comes without much conviction meaning we could be headed for a triple looking top running out of legs in defense of the longer term downtrend on the daily and weekly charts.

On a continuation of the downtrend, and much depending on EUR/USD performances, we may find the pair moving through the ranks with caution. The next support to the downside found at 0.7999 (Daily Classic PP), then 0.7977 (Hourly 100 SMA), 0.7976 (Daily Classic S1), 0.7956, 0.7900, 0.7880, 0.7850/20 and to the psychological 0.7800.

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