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Nov 12 - 06:55 AM

EUR/GBP - Bullish Boost From Continuation Pattern

By Peter Stoneham  —  Nov 12 - 04:55 AM
  • This week's price action has formed a bullish continuation pattern

  • Pattern topside break out at 0.8569: cloud top 0.8565 and Thurs high 0.8573

  • Support from 10 and 100DMAs at 0.8538, Nov 9 0.8521 low and 50DMA at 0.8522

  • The topside has been contained be the 200DMA, today at 0.8580

  • Weeklies continue to feed off a week-ending Oct 29 hammer (bullish)

  • On balance we lean bullish but will wait for stronger signals.

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EUR/GBP Trader:

EUR/GBP daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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