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EURGBP flips backwards; focus on 0.8780
EURGBP switched to losses, falling back below its 20-day simple moving average (SMA) after an unsuccessful three-day battle around the more-than-six month high of 0.8764. The pair is currently trying to stay afloat above the 0.8700 round-level as the 20-day SMA appeared a tough obstacle earlier today at 0.8712. From a technical perspective, the risk is more to the downside than to the upside. The price closed marginally below the key support trendline from August’s lows yesterday, while the momentum indicators have resumed their negative slope. Specifically, the RSI is set to cross below its 50 neutral mark and the ... (full story)