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Jan 26 - 01:55 PM

GBP/USD - Euro Bears Remain In Control Versus Sterling Despite Rebound

By Justin Mcqueen  —  Jan 26 - 12:30 PM
  • EUR/GBP attempts a modest recovery to close out the week

  • However, momentum remains on the downside after the Jan 25 key day reversal

  • 0.8550 (prior support, now resistance) is also a key impediment to upside

  • That said, the daily RSI divergence gives longs hope

  • Meanwhile, a close above 0.8565 would help negate bearish risks

  • For now, shorts remain in control with focus on 0.8520 and 0.8500

  • Should 0.8500 give way, there is little notable support until 0.8400

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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