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EUR/GBP Technical Analysis: Struggling near 1-1/2 month lows, 200-DMA ahead of Carney/UK CPI

   •  Having faced rejection near the 0.9100 handle, the cross witnessed a sharp retracement and finally broke through a one-month-old consolidative range last Friday.

   •  The post-breakdown slide below 50% Fibonacci retracement level of the mid-Dec to early-Jan. upsurge has found some support at the very important 200-day SMA.

   •  Technical indicators on the daily chart maintain their bearish bias and are still far from being in the oversold territory, increasing prospects for further downside.

   •  The set-up clearly points to an extension of the recent downward trajectory towards testing 61.8% Fibonacci retracement level support en-route the 0.8800 handle.

EUR/GBP daily chart

EUR/GBP

Overview:
    Today Last Price: 0.8868
    Today Daily change: 9.0 pips
    Today Daily change %: 0.102%
    Today Daily Open: 0.8859
Trends:
    Previous Daily SMA20: 0.8987
    Previous Daily SMA50: 0.8924
    Previous Daily SMA100: 0.8898
    Previous Daily SMA200: 0.8864
Levels:
    Previous Daily High: 0.8988
    Previous Daily Low: 0.8854
    Previous Weekly High: 0.9062
    Previous Weekly Low: 0.8923
    Previous Monthly High: 0.9089
    Previous Monthly Low: 0.8863
    Previous Daily Fibonacci 38.2%: 0.8905
    Previous Daily Fibonacci 61.8%: 0.8937
    Previous Daily Pivot Point S1: 0.8813
    Previous Daily Pivot Point S2: 0.8766
    Previous Daily Pivot Point S3: 0.8679
    Previous Daily Pivot Point R1: 0.8947
    Previous Daily Pivot Point R2: 0.9034
    Previous Daily Pivot Point R3: 0.9081

 

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