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Sep 13 - 06:55 AM

GBP/USD - Long Shadow Cast Over Euro's Rally Versus Sterling

By Peter Stoneham  —  Sep 13 - 04:50 AM
  • Breach of a thin daily cloud, 0.8603, and 100-day moving average at 0.8615

  • Gains prove hard to hold and a long upper candle shadow forming Wednesday

  • Fourteen day momentum readings positive but fading, not confirming rally

  • Close below the 100DMA could be significant

  • We see increasing downside risk but will wait for stronger signals

  • Previous spike high, 0.8600 from Sept. 7, key support

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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