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EURGBP continues to trade weak after forming a minor top around 0.8625. It hit a low of 0.84204 and is currently trading around 0.84296.
Technicals-
The pair trades below 34- and 55 EMA in the 4-hour chart.
The near-term resistance is around 0.8435, a breach above targets 0.8450/0.84740/0.8480. The immediate support is at 0.8420, any violation below will drag the pair to 0.83830 (Jul 17th, 2024).
Indicator (4-hour chart)
CCI (14)- Bearish
CCI (50)- Bearish
Average directional movement Index - bearish
It is good to sell on rallies around 0.8450 with SL around 0.84750 for TP of 0.8400.
