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May 09 - 05:55 AM

EUR/GBP - Offer Met But Risk Remains Skewed Topside

By Peter Stoneham  —  May 09 - 04:00 AM
  • Cross was held just ahead of a 76.4% Fibo Friday

  • The 0.8597 retrace is taken off the 0.8719-0.8402 drop

  • Our offer ahead of the Fibo met and we target 0.8465

  • Friday's long upper candle shadow bearish

  • However, early Monday and another long shadow forming, to the downside

  • Daily momentum and RSI remain over bought but no divergence seen

  • Weekly close inside the cloud noted: last close inside January 2021

  • Upside risk remains while mixed signals cloud near-term direction

    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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