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Jan 14 - 05:55 AM

GBP/USD - Euro Refusing To Roll Over Versus Sterling

By Peter Stoneham  —  Jan 14 - 04:00 AM

• EUR/GBP was capped by a 76.4% Fibo retracement level Monday, 0.8424

• The 200-day moving average the key level bind at 0.8426

• Our corrective short play from the high is in the money

• However, the pullback to 0.8386 looks tentative at best

• Strong weekly picture argues for cutting the trade early

• We might also consider a stop and reverse just above the 200DMAEUR/GBP Trader: [page:2343]
EUR/GBP daily candle chart:


(Peter Stoneham is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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