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    EUR/GBP: mini-up-trend meets top of channel

       
    The pair has formed a mini-up-trend which has reached the upper border of a down-sloping channel – as well as the monthly pivot. This ceiling has provided resistance and the pair has retracted.

    If the mini-up-trend gains momentum again and breaks out of the channel – confirmed by a move above 0.7162, it would probably led to a move up to 0.7300 – or for a nearer target the 0.7222 highs.

    Alternatively if the longer-term down-trend resumes and pushes the pair lower within the channel, then a move below 0.7050 would probably confirm a down-swing to the bottom of the channel at 0.6925, or more conservatively the 0.6940 lows.
    EURGBP27

       
    The pair has formed a mini-up-trend which has reached the upper border of a down-sloping channel – as well as the monthly pivot. This ceiling has provided resistance and the pair has retracted.

    If the mini-up-trend gains momentum again and breaks out of the channel – confirmed by a move above 0.7162, it would probably led to a move up to 0.7300 – or for a nearer target the 0.7222 highs.

    Alternatively if the longer-term down-trend resumes and pushes the pair lower within the channel, then a move below 0.7050 would probably confirm a down-swing to the bottom of the channel at 0.6925, or more conservatively the 0.6940 lows.
    EURGBP27


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