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Nov 05 - 08:36 AM
EUR/GBP - Breakout Could Be Significant When It Comes
First appeared on eFXplus on Nov 05 - 05:20 AM
  • Increasing patience needed as price continues to play out sideways

  • Daily range break, when it comes could be good for some mileage

  • Daily stochs are rising and surprisingly 14-day momentum flips to positive

  • A weekly bearish continuation pattern still holding just below the 200WMA

  • 200WMA is at 0.8660, weekly cloud base 0.8698 and trend supp. 0.8590

  • Combined daily and weekly action suggests fading up-ticks the strategy

  • On balance a bear break favoured: however, we await stronger signals









EUR/GBP Trader:

EUR/GBP Daily Candle Chart: Click here

EUR/GBP Weekly Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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