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Apr 05 - 11:55 AM

EUR/GBP's 8% Plunge From December Is Nearing Important Supports

By Content Admin  —  Apr 05 - 10:01 AM
  • EUR/GBP's pandemic divergence and post-Brexit slide is nearing key props

  • The ABC target from last March & April's dive off Sep's high is @0.8461

  • The 161.8% Fibo off Dec's high and low is at 0.8452

  • Weekly RSIs are their most oversold since Dec 2019

  • And daily RSIs are also oversold, with bullish divergence risk

  • The downtrend in 10-year Bund-Gilt yield spreads has stalled of late

  • UK well ahead of EU in pandemic mitigation, but EU vaccine supply on rise

  • If 0.8452/61 props give way, 2019 and 2020 lows at 0.8278/82 will be next

For more click on FXBUZ


Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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