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Nov 08 - 05:55 AM

GBP/USD - Euro Hammer Reversal Versus Sterling Is Holding

By Peter Stoneham  —  Nov 08 - 03:35 AM
  • Monday's hammer candle has some confirmation: price closing above 200DMA

  • The 200DMA now providing support at 0.8691

  • However, the pattern still needs a EUR close above 0.8721, Oct. 3 high

  • Bearish divergence on daily momentum, still reflecting recent price drop

  • Daily RSI is also struggling to confirm the rebound from 0.8650

  • We lean bullish but will need stronger signals before trading

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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