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EUR/GBP is off Monday's 0.7305 lows, but downside risk remains as price action remains below the 10/21 DMAs.
- Pair broke below 61.8% of the Sept/Oct rise at 0.7310 yesterday, but failed to close below
- Close below 0.7310 on the day could accelerate downside in the pair, bears could target 0.7267 (76.4% of 0.7197 - 0.7493)
- EUR/GBP is currently trading at 0.7323, with immediate resistance at 0.7353 (30 DMA) and support at 0.7305 (Low Sep 25 & Oct 19)
Resistance Levels:
R1: 0.7353 (30 DMA)
R2: 0.7370 (Daily High Oct 19)
R3: 0.7373 (10, 21 DMAs)
Support Levels:
S1: 0.7305 (Low Sep 25 & Oct 19)
S2: 0.7267 (76.4% of 0.7197 - 0.7493)
S3: 0.7262 (200 DMA)
