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May 26 - 04:55 AM

EUR/GBP - Mild Correction But Risk To 200DMA Remains

By Peter Stoneham  —  May 26 - 03:00 AM
  • Significant Wed fall allows us to drop our short stop into the money

  • We still target 0.8455, ahead of the 200 day moving average, 0.8446

  • Stop is now placed tight above an 0.8515 pivot point

  • No major trend to reverse but Wed's bearish engulfing still significant

  • Mild corrective gains early Thursday but EUR remains vulnerable

  • Failure to hold a weekly cloud breach adds further to bearish scenario

    For more click on FXBUZ















EUR/GBP Trader:

EUR/GBP daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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