TradingTechs

Critical levels for EURGBP

OANDA:EURGBP   EUR/GBP
80 0 12
EURGBP             broke the Trendline from Brexit and is currently testing first support (38.2% Fib). Major support comes in from 0.84 to 0.83. A bounce from these levels could set up a continuation of the uptrend but keep in mind that these are critical levels and getting through them could set up a mid-term bear market
Comment: Managed to get through first support. A close below could see the move extending to critical support (Green Rectangle)
Comment: Could see a flush above above 0.8627. If we close above previous highs buyers in control and could move higher
Comment: No close above yesterdays high although we did go through the high on a stop run and sellers stepped in immediately.
Comment: Support held and now a close above previous highs should target 0.8710-0.8720 area where first resistance comes in
snapshot
Comment: Another swing failure. We really should be heading towards 0.84-0.83 area now if we get a bearish close
Comment: First Fib is proving very resilient. This area needs to clear out if we are to see any direction
Comment: Closing in on last weeks low at 0.8460. Though here we should see it moving towards area of support (green rectangle)
snapshot
Comment: Entering area of major support (clusters of highs and lows & 50% Fib since Brexit)
snapshot
Trade active: Bounced off support on volume
snapshot
Comment: Pair still in major support zone. If it gets through and closes the next area of support is 0.82 (61.8% Fib).
snapshot
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