EURGBP sideways through November so far, as we range trade to allow oversold conditions to unwind. Immediate resistance in the 7855/65 area is the key to this week’s direction. Only above here is more positive & opens the door to a test of resistance at 7885/90. A good chance of a high for the day here but shorts need stops above 7903. Be ready to go with a break higher using 7890 as support for a move towards strong resistance at 7917/20 & an excellent selling opportunity this week.
Immediate support at 7830/25 but below here could see the pair head for the lower end of the recent range at 7805/7795. Try longs as we look for a bounce from here, with stops below 7785.
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