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Oct 20 - 06:55 AM

GBP/USD - Euro Beginning To Trend As Sterling Hits A Political Wall

By Peter Stoneham  —  Oct 20 - 05:25 AM
  • EUR/GBP breaks clear above the 10DMA and bull run extends for fourth day

  • Oct. 17 hammer signal proving accurate as a bullish reversal takes hold

  • Our 0.8675 short play hits its stop at 0.8750

  • Move above converging 21 and 30DMAs to further confirm bull run, 0.8780-82

  • A 38.2% Fibo retrace also at 0.8782, from 0.9260-0.8648 drop

  • Buying dips favoured but we will stand aside for now

    For more click on FXBUZ
















Source:
Refinitiv IFR Research/Market Commentary

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