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May 24 - 06:55 AM

GBP/USD - Euro Correcting Away From Key Support Versus Sterling

By Peter Stoneham  —  May 24 - 04:40 AM
  • Three-month low Thurs but stopped short of key support at 0.8498

  • The Feb and 2024 low intact and EUR revisits 0.8528 Thurs high

  • Daily RSI diverged on the low and price now trading away from a daily doji

  • We are positioned for a corrective rally and target 0.8580

  • Retrace levels off 0.8620-0.8500 drop start at 0.8528 and 0.8546

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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