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EUR/GBP Technical Analysis: Tests 23.6% Fibo. level support on softer German CPI

   •  The cross once again struggled to make it through the 0.9050-60 supply zone and fell to 23.6% Fibo. level of this week's up-move on softer German CPI. 

   •  Technical indicators on the 1-hourly chart have already drifted into negative territory but have managed to hold with bullish bias on 4-hourly/daily charts. 

   •  Meanwhile, the fact that the cross is holding comfortably above important intraday moving averages - 50, 100 & 200-hour SMA, support prospects for dip-buying.

   •  Hence, any subsequent slide might now be seen as an opportunity to initiate fresh bullish positions and is likely to be limited by the key 0.90 psychological mark.

EUR/GBP 1-hourly chart

EUR/GBP

Overview:
    Today Last Price: 0.9027
    Today Daily change: -13 pips
    Today Daily change %: -0.144%
    Today Daily Open: 0.904
Trends:
    Previous Daily SMA20: 0.8978
    Previous Daily SMA50: 0.8887
    Previous Daily SMA100: 0.8899
    Previous Daily SMA200: 0.8848
Levels:
    Previous Daily High: 0.9065
    Previous Daily Low: 0.8967
    Previous Weekly High: 0.9057
    Previous Weekly Low: 0.8962
    Previous Monthly High: 0.8932
    Previous Monthly Low: 0.8656
    Previous Daily Fibonacci 38.2%: 0.9028
    Previous Daily Fibonacci 61.8%: 0.9005
    Previous Daily Pivot Point S1: 0.8984
    Previous Daily Pivot Point S2: 0.8927
    Previous Daily Pivot Point S3: 0.8886
    Previous Daily Pivot Point R1: 0.9081
    Previous Daily Pivot Point R2: 0.9122
    Previous Daily Pivot Point R3: 0.9179

 

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