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EURGBP Weekly Technical Outlook | December 20, 2014
EURGBP rejected from its near term resistance area. It formed bearish rejection candle at weekly chart. We can see a bearish pin bar on daily chart. It is now towards its support area at 0.7800 area. As this pair is now on ranging area, 0.7760-0.7790 will be good buying zone for this pair and target will be 0.7900 area. On the other hand, 0.7750 is major support area. So with the break of this support we can more downward rally in this pair
Weekly Pivot, Support and Resistance
Resistance Two (R2): 0.8075
Resistance One (R1): 0.7948
Pivot Point: 0.7880
Support One (S1): 0.7753
Support Two (S2): 0.7685
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