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EUR/GBP bearish within weekly bear trend

FXStreet (Guatemala) - EUR/GBP is trading at 0.7918, up 0.08% on the day, having posted a daily high at 0.7936 and low at 0.7903.

EUR/GBP has remained within current ranges supported around 0.7915 where it is currently testing to the downside after trading around 15 pips from the open of the week’s business to the upside, dropping back below 0.7910 attracting bids back to 0.7925.

The pair is caught up between cable and EUR/USD with the greenback’s volatility but moreover, The trades within the weekly descending channel, faded on the way up to 0.80/50 and is targeting 0.78 currently.

EUR/GBP noteworthy levels

With spot trading at 0.7919, we can see next resistance ahead at 0.7920 (Daily 100 SMA), 0.7922 (Hourly 20 EMA), 0.7941 (Daily Classic PP) and 0.7953 (Weekly Classic PP). Support below can be found at 0.7917 (Daily 20 SMA), 0.7913 and 0.7903 (Daily Low), 0.7880, 0.7860 and 0.7825.

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