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May 11 - 02:55 AM

GBP/USD - Euro Fights Back With A Hammer Candle Versus Sterling

By Peter Stoneham  —  May 11 - 02:10 AM
  • A Wed hammer, albeit a small one, a concern for our 0.8765 short play

  • A bullish close today would confirm the bullish candlestick hammer signal

  • We have profits locked to 0.8725 and target 0.8565

  • A minimum correction off the recent 0.8875-0.8772 drop is at 0.8720

  • Daily momentum remains negative but RSI close to over sold levels

  • Weekly action threatening to close back above the 200WMA

  • Mixed signals argue for squaring our short: we will monitor any pullbacks

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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