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Apr 09 - 08:55 AM

GBP/USD - Euro Slides After Repeated Rejections Versus Sterling

By Peter Stoneham  —  Apr 09 - 06:40 AM
  • The 100-day average has capped the cross again

  • Tues 0.8581 rejection triggered a deeper pullback: 100DMA at 0.8583

  • We have taken a short at market for 0.8510 with a stop above 0.8600

  • Fourteen day momentum has faded but remains positive

  • Minor Fibo retracement levels are at 0.8565, 59 and 53

  • Fibos are taken off the recent 0.8532-0.8586 climb

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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