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Mar 16 - 07:55 AM

GBP/USD - Euro Has Potential To Deliver A Major Blow To Sterling

By Peter Stoneham  —  Mar 16 - 05:40 AM
  • Cross finally cracks the 10DMA resistance at 0.8600

  • Our 0.8565 long now performing and stop raised to lock in 20-pips

  • Big topside level now 0.8640, 50% Fibo off 0.8730-0.8549

  • Tempted to raise target too but will monitor a test of the 0.8640 level

  • Potential for retrace back to 0.8730 Feb 26 high: a major squeeze point

  • Also potential for a weekly bullish engulfing line: strong reversal signal

    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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