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EURGBP Will the Support hold?

Great signal out of the EURGBP pair last time we analyzed it (June 25, see chart below), as the price hit and even surpassed our 0.8550 Target:

Following that High, the pair collapsed and is about to test Support 1, which technically is Lower Lows region for the long-term Channel Down. As long as the 1D RSI Higher Lows trend-line holds, we will look for a buy on Support 1 and target the 0.618 Fibonacci extension at 0.8530.

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