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Jul 25 - 06:12 AM
EUR/GBP - Bulls Buckle, But Bears Need Close Below Key Fibo
First appeared on eFXplus on Jul 25 - 03:50 AM
  • EUR/GBP bulls have buckled, the cross dropped to break the 0.8911 Fibo
  • 0.8911 Fibo is a 23.6% retrace of the 0.8456 to 0.9051 (May to July) high
  • Bears now need a daily close below 0.8911 Fibo to press home their advantage
  • That would open the path to the 0.8824 Fibo (38.2%)
  • Our 0.9025 short hit its 0.8925 obj, we recommend a stint on the sidelines
  • Boris culls the herd, and the pound looks nervous

EUR/GBP Trader:

Daily Fibo Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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