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FxWirePro: EUR/GBP upside struggles at 20-DMA, focus on eurozone sentiment and German CPI data

  • Better sentiment around the single currency has supported upside in EUR/GBP.
     
  • The pair has hit session highs at 0.8415, but struggles to extend gains.
     
  • 20-DMA currently at 0.8411 has been limiting upside in the pair for the past week.
     
  • Intraday Techs support upside, however, only a decisive break above could see further gains.
     
  • Support on the downside is seen at 0.8361 (7-DMA) and then 0.83 levels.

Recommendation: Good to go long on breakout above 0.8411, SL: 0.8360, TP: 0.8470/ 0.85/ 0.8525
 

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