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17.01.2024 06:23 AM
EUR/GBP H4 | Neutral Bias

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The EUR/GBP chart suggests a neutral bias with price fluctuating between the support and resistance levels. Here are the key support and resistance levels:

Resistance Levels:

The 1st resistance level at 0.8614 is identified as an "Overlap resistance". This level may act as a significant barrier to further upward movement in the price of gold.

The 2nd resistance level at 0.8638 is also labeled as a "Pullback resistance". It represents another level where selling pressure could potentially emerge and limit any bullish momentum.

Support Levels:

The 1st support level at 0.8585 is marked as a "Pullback support". This level could attract buying interest and serve as a potential area of price reversal or consolidation.

The 2nd support level at 0.8553 is also identified as a "Pullback support". It represents another important support zone where traders might consider entering long positions.

Dean Leo,
Analytical expert of InstaForex
© 2007-2025
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