EUR/GBP: 1-hour
Here’s one for euro bears! EUR/GBP is riding a possible downtrend as it drops below .7250. Right now we’re seeing a bit of retracement that could reach the .7275 area. The level is interesting not only because it had served as a support and resistance level in March, but also because it’s right at a 50% Fib on the 1-hour time frame. A consolidation at the level could attract some bears, while a break above the trend line could inspire a visit back to the .7350 area.
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