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May 16 - 02:55 AM

GBP/USD - Euro Has Potential For An Adjustment Versus Sterling

By Peter Stoneham  —  May 16 - 02:00 AM
  • Back to back bear closes and a bearish MA cross over

  • The 10DMA now clear below the 200DMA, 0.8720 and 0.8741

  • We are short from 0.8717 for 0.8565 with an 0.8775 stop

  • May 11 range provides key levels at 0.8662 and 0.8735

  • Strong bearish bias for 14-day momentum but bullish divergence on RSI

  • Dailies have potential for a bearish continuation pattern

  • On balance, for Tuesday, risk of corrective action to the 10DMA

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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