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ICmarkets
Dec 3, 2018 4:25 AM

EURGBP Approaching Resistance, Potential Reversal Short

Euro Fx/British PoundFXCM

Description

EURGBP is approaching its resistance at 0.8927 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 0.8824 (38.2% Fibonacci retracement, horizontal swing low support). Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
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