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Jan 29 - 02:55 AM

GBP/USD - Euro Bear Trend Versus Sterling Taking A Stronger Hold

By Peter Stoneham  —  Jan 29 - 02:12 AM

• A slow death for our 0.8433 long play

• Price hitting a 0.8380 low for the second session running

• Our stop is just below an 0.8378 38.2% Fibo, 0.8375

• A third session clear below the 200DMA highlights the bearish bias

• The 10DMA is also poised to cross below the 200DMA

• Monday's 0.8420 high a possible squeeze point

• The converged 10 and 200DMAs are just ahead at 0.8417

• EUR/GBP Trader EUR/GBP Trader: [page:2343]
EUR/GBP daily candle chart:


(Peter Stoneham is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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