Following the Bank of England decision and the fact that they are backing away from the idea of negative rates allowed the to pivot off some key support. Just below the 1.7800 level was a broken trendline (red) and also the 38% retracement of 2021 move higher. Also, this is the 50-day moving average and 48ema. As long as the 1.7800 level holds, the risk for a move to the 200 dma and higher seems appropriate near-term.
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