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Nov 04 - 03:55 AM

EUR/GBP - Converging Technicals A Double Edged Sword

By Peter Stoneham  —  Nov 04 - 02:40 AM
  • A pause in the updraft having peaked at 0.8513

  • Our 0.8425 long still in play with profits locked

  • On the pullback initial support at 0.8474, Wed low

  • Potential bull cross, 10DMA over 21DMA, could trigger fresh gains

  • However, below the converged avgs, 0.8465, damages the bull run

  • key 50% Fibo off 0.8658-0.8403 at 0.8531 the big bull trigger

    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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