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Jul 26 - 07:24 AM
EUR/GBP - Bulls Averted A Close Below Key Fibo, Bears On The Run
First appeared on eFXplus on Jul 26 - 05:00 AM
  • Bulls forced a rebound Thursday, preventing a daily close below 0.8911 Fibo
  • 0.8911 Fibo is a 23.6% retrace of the 0.8456 to 0.9051 (May to July) high
  • Bears are now trapped and need to be shaken out of their positions
  • Looking to get on long a 0.8920, scope for recovery above 10-DMA at 0.8980
  • EUR/USD tech outlook still bearish after wild ride on Thursday
  • GBP/USD remains bearish until there is a close above tenkan

EUR/GBP Trader:

Daily Fibo Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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