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Oct 17 - 05:55 AM

GBP/USD - Euro Direction Clouded By A Sideways Bias Versus Sterling

By Peter Stoneham  —  Oct 17 - 04:25 AM
  • No preceding trend to reverse but Mon recorded a key day and engulfing line

  • Hints at market indecision with long upper and lower EUR/GBP shadows

  • Daily chart does smack of a market that is happy panning out sideways

  • Can't ignore the Oct. 25 0.9593-97 cloud twist (bearish)

  • Daily RSI trying to lift but momentum readings are near neutral

  • Buls can target the 200-day moving average: currently at 0.8699

  • Tight call but marginally bullish: We stand aside for now

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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