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Technical Outlook: EURGBP – Bears Eye 200SMA Target After Completion Of H&S Pattern On Daily Chart

The cross extends steep descend into third consecutive day and generated bearish signals on completion of asymmetric H&S pattern on daily chart (broken neckline lies at 0.8868) and break below 0.8840 (Fibo 61.8% of 0.8732/0.9013 ascend).

Strong bearish acceleration from 0.8981 (right shoulder) eyes target at 0.8791 (200SMA / 07 Nov trough) and could extend towards key s/t support at 0.8732 (01 Nov low).

Broken daily Kijun-sen / H&S neckline mark solid resistance at 0.8870 zone which is expected limit corrective attempts.

Res: 0.8840, 0.8870, 0.8903, 0.8916
Sup: 0.8811, 0.8791, 0.8745, 0.8732

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
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