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Nov 07 - 05:00 AM
EUR/GBP - Risk Of A Sizeable Drop If Bear Flag Plays Out
First appeared on eFXplus on Nov 07 - 02:45 AM
  • Weekly bear flag holding with a projected target of 0.8150

  • Weekly lower Bolli at 0.8487 then key support at 0.8456, May low

  • Flat lining 14-day momentum reflecting sideways cross action

  • Daily 0.8577-0.8676 range extends for 16th session

  • Potential breakout triggers at 0.8589 flag base line and 0.8646 21DMA

  • Prefer to wait for a stronger signal but might go with a 0.8589 break









EUR/GBP Trader:

EUR/GBP Weekly Bear Flag: Click here

EUR/GBP Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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