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May 05 - 06:55 AM

EUR/GBP - FX Traders Might Have To Respect This Trend

By Peter Stoneham  —  May 05 - 04:37 AM
  • Monday's bearish engulfing signal playing out and bear trend developing

  • Big support levels looming but potential for a full retracement

  • 76.4% Fibo off recent 0.8589 to 0.8719 is at 0.8620

  • Daily cloud base and 55DMA stand in the way, 0.8622 and 0.8595

  • 14-day momentum and RSI confirming price drop

  • We offer by 0.8670 for a run back to 0.8472 Apr low

    For more click on FXBUZ
















EUR/GBP Trader:

EUR/GBP daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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