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May 13 - 05:55 AM

EUR/GBP - Gaining Traction As It Hammers Out A Base

By Peter Stoneham  —  May 13 - 04:01 AM
  • False cloud break Wed and a long lower candle shadow: hammer-bullish

  • Our 0.8595 long stop tripped for profit, we now stand aside

  • Candles point to reversal potential but need to better the 55DMA, 0.8620

  • Note end of month cloud twist, 0.8625-: twists can attract

  • 14-day momentum negative but RSI based and climbing

  • Weeklies still bearish but a hammer (bullish) forming here too

    For more click on FXBUZ
















EUR/GBP Trader:

EUR/GBP daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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