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Sep 17 - 02:55 AM

EUR/GBP - Demand On Dips But Signals Are Conflicting

By Peter Stoneham  —  Sep 17 - 02:01 AM
  • Long lower candle shadows continue to highlight demand on dips

  • Bad news for our 0.8509 short play but price is back below its cloud

  • Cloud base at 0.8529 and Thurs high at 0.8546: initial resistance

  • 14-day momentum remains negative and RSI diverging bearishly

  • We will maintain a stop above the 0.8560 cloud top and target 0.8305

  • Weekly action bearish but doji risk/market uncertainty is increasing

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EUR/GBP Trader:

EUR/GBP daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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