EURGBP still bullish but performing strong corrective moves

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EURGBP found strong resistance around the 0.7219 level and now it’s performing corrective moves.

At H1 chart, we should note the current position where is trading this pair, as it remains above the 200 SMA. The closest support is located at the 0.7166 level and if broken, it would be expected to fall to the 200 SMA.

In another side, a breakout above the daily pivot point level of 0.7194, will push the pair to the resistance zone of 0.7219. RSI indicator is still at negative territory.

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