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May 31 - 05:55 AM

GBP/USD - EUR's Monday Twist Advantage Over Sterling

By Peter Stoneham  —  May 31 - 03:57 AM
  • Modest adjustment Friday but bid already beginning to fade

  • Possibly some pull from today's 0.8625-31 cloud twist but influence fading

  • We maintain a short from 0.8655 for 0.8545 with profit locked at 0.8605

  • May 12 0.8561 hammer low the bearish focus this week

  • Key level topside a way off at 0.8670, last week's high

  • Friday's 0.8575 to 0.8605 range likely to contain Monday action

  • A ratchet pattern on the weeklies just favouring the bear side

    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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