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EURGBP on H4 is in a bullish trend. After snap parliamentary elections, pound sterling weakened against Euro, resulting in a successful breakout of resistance area around 0.8750.

Price went very dynamically in direction of resistance placed in vicinity of 0.8853, which has not yet been broken. At present, there is a bearish correction, due to recent pound strengthening which is caused by agreement between the Conservative Party and the Northern Ireland Democratic Unionist Party (DUP). EURGBP losses have led to 20-period SMA and area of 33-66%, which may provide an opportunity to join the upward trend in case a valid buy signal occurs. The nearest goal in this scenario will be the last high.

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