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Sep 06 - 08:36 AM
EUR/GBP - Pause In The Bear Run But Cloud Weighs Heavy
First appeared on eFXplus on Sep 06 - 06:45 AM
  • 3-day bear run brought a daily cloud break and lows not seen since Jul
  • Our 0.9100 short performing nicely and the stop now locks in healthy profit
  • Modest rebound takes price back to the cloud but a breach found wanting
  • Weeklies support the bear call with a potential key week
  • Not a trend reversal but added weight to the bear run
  • Next big support at 0.8924, 100DMA: l/t average has held price since May 15

EUR/GBP Trader:

EUR/GBP Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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