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Oct 06 - 03:55 AM

EUR/GBP - Still Leans Bearish But Correction Risk Building

By Peter Stoneham  —  Oct 06 - 01:53 AM
  • Four day slide just pulling up shy of the 0.8501-0.8499 supports

  • Modest lift away from Sept 6 low and 76.4% Fibo off 0.8450-0.8658

  • Retracements for recovery 0.8540 and 0.8563, 23.6% and 38.2% respectively

  • 14-day momentum clinging to negative readings and RSI flattening out

  • EUR/GBP still leans bearish with Aug 10 0.8450 low a target

  • We stand aside for now, waiting for stronger signals

    For more click on FXBUZ
















EUR/GBP Trader:

EUR/GBP daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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