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Dec 24 - 05:55 AM

EUR/GBP - Back From The Brink After Late Thurs Rebound

By Peter Stoneham  —  Dec 24 - 05:08 AM
  • Late Thurs bounce out of a steep three-day decline and 0.8417 low

  • Price action formed a hammer candle (bullish) and is firmer Frid

  • Bear run from Dec 12 0.9598 high still intact but cloud twist noted

  • EUR/GBP still risks a full retrace of recent 0.8380-0.8598 rally

  • Cloud twists can appear to attract price: Jan 14 0.8511-0.8513 twist

  • Key resistance/squeeze level on the rebound at 0.8484 daily cloud base

  • UK bond yields have out-performed German returns but advantage slowing

    For more click on FXBUZ







EUR/GBP daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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