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EURGBP currency pair recently reversed down with the daily Bearish Engulfing from the resistance zone lying between the minor resistance level 0.86400 (top of the previous wave (b)), upper daily Bollinger Band and the 100-day moving average. Given the clear daily downtrend EURGBP currency pair recently can be expected to fall further toward the next support level 0.85650 (which stopped the previous waves (2) and 2) – from where EURGBP is likely to correct up.
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