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Daily Technical Report 24 May 2018
EUR/USD has breached the key support at 1.1736 (12/12/2017 low). The short-term technical structure is negative as long as prices remain below the hourly resistance at 1.2036 (11/01/2017 low). Next key support and resistance are now given at 1.1720 (21/05/2017 low) and 1.2323 (17/01/2018 high). • In the longer term, the momentum is turning largely negative. We favor a continued bearish bias. Key resistance is holding at 1.2886 (15/10/2014 high) while strong support lies at 1.1554 (08/11/2017 low). • GBP/USD is trying to bounce near the 1.03324 strong support. Hourly support and resistance are given at 1.3324 ... (full story)