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The cross is trading tad below October high 1.7165, a higher low and higher high pattern appear further extension. We forecast 1.7300 in October, the price was trading at 1.6960. Near term, resistance seems between 1.7165-1.7200. A weekly close above 1.72 could open to 1.7300, 1.7400 and 1.7530 levels.
GBP crosses technical overview:
EURGBP: Parallel support in focus
As shown in the below chart the cross gave an upside break through the inverse H&S pattern in October. The higher low and higher pattern promising further extensions. The RSI and oscillator remain bullish on the daily and weekly charts
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