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Jan 20 - 02:55 AM

GBP/USD - Euro Playing Out A Potential Bull Pattern Versus Sterling

By Peter Stoneham  —  Jan 20 - 02:28 AM

• EUR/GBP bulls still in control as the cross consolidates above the 200DMA

• Potential for a bullish continuation pattern to play out this week

• Upside breakout point at 0.8447 today

• Recent daily tops at 0.8453 and 0.8465 also providing resistance

• Fourteen day momentum confirming Friday's rally but RSI is stretched

• A Feb. 17 0.8334-35 cloud twist fighting the GBP's corner

Buy on dips strategy favoured for nowEUR/GBP Trader: [page:2343]
EUR/GBP daily candle chart:


(Peter Stoneham is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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