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Feb 21 - 01:55 PM

GBP/USD - Euro Leans On Feb Highs Versus Sterling, Daily Close Is Key

By Justin Mcqueen  —  Feb 21 - 11:15 AM
  • EUR/GBP continues to press on the Feb highs (0.8571-78)

  • Daily close above Feb peak needed to add to rebound case

  • Cross remains somewhat rangebound in the current narrative vacuum

  • Euro Area/UK flash PMIs near-term event risk

  • Resistance: 0.8583 (55DMA), 0.8616 (200DMA)

  • Support: 0.8542 (200HMA), 0.8500 (psychological)

  • Positioning is a growing headwind for GBP/USD nL2N3F40NG

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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