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EURGBP approaching support, potential bounce!

Oleh Tickmill
Broker
Price is approaching our first support at 0.8766 (horizontal swing low support, 50%, 61.8%, 100% Fibonacci extension, 50% Fibonacci retracement) and a strong bounce might occur above this level, pushing price up to our major resistance at 0.8833 (horizontal swing high resistance, 61.8% Fibonacci retracement).
Stochastic is also approaching support which might be a good precursor for a potential rise in price should it bounce off this level.
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Losses can exceed the initial investment so please ensure you fully understand the risks.

Chart PatternsEUREURGBPeurgbploneurgbpshortForexforexanalysisforexsignalsforextradingGBPHarmonic PatternsTrend Analysis
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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