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Feb 05 - 04:55 AM

GBP/USD - Euro Bears Survive A Squeeze Versus Sterling

By Peter Stoneham  —  Feb 05 - 03:15 AM
  • Early Monday gains evaporate and our short is back in the game

  • Stop remains at 0.8570 with a 0.8455 target

  • The underlying bear trend has been shaken badly and we remain at risk

  • Jan. 30 high at 0.8567 is intact and now seen as key resistance

  • Fourteen day momentum still negative but RSI is rising

  • Last week's Doji candle also a warning to the bear market

  • Indecision at the trend lows points to a potential rebound

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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