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Jun 13 - 06:55 AM

GBP/USD - EUR Eyes Trend Break As Sterling Struggles

By Peter Stoneham  —  Jun 13 - 04:55 AM
  • Price rebound out of last wk's 0.8486 low brings trend resistance into play

  • The line dawn off the 0.8618 May 12 high comes in at 0.8578 today

  • We have raised our long stop to entry, 0.8510, and target 0.8615

  • Bullish daily momentum just holding and Ichimoku cloud rising

  • Weekly gains now consolidating inside the weekly Ichimoku cloud

  • The weekly cloud does thin, weakens resistance, but is also falling

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EUR/GBP Trader:

Source:
Refinitiv IFR Research/Market Commentary

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