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Oct 24 - 06:55 AM

EUR/GBP - Bull Trap Appears On The Daily Chart: Ominous

By Martin Miller  —  Oct 24 - 04:40 AM
  • EUR/GBP bull trap above 30-DMA, now at 0.8760, is a bearish sign

  • A bull trap set when a market breaks above a tech level but quickly reverses

  • Expect a drop to retest to probe Oct 0.8580 low, a brk below will accelerate

  • The 10 and 30 DMAs are negative aligned, adding to the downside bias

  • EUR/GBP Trading Page TGM2343 EUR/USD nL1N31P0GD GBP/USD nL1N31P0HT

Source:
Refinitiv IFR Research/Market Commentary

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