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Aug 15 - 07:55 AM

EUR/GBP - Conflicting Charts But Bears Could Edge Ahead

By Peter Stoneham  —  Aug 15 - 05:35 AM
  • A positive weekly close and inside the weekly cloud

  • Long upper daily candle shadows conflict

  • Bearish divergence on 14-week momentum also a concern for bulls

  • Cross also failed to hold an upside breach of the 100DMA

  • With a USD move hurting both EUR and GBP the cross could pan out sideways

  • We lean slightly bearish but need stronger signals to take a position

  • Key levels to watch, 0.8434 Fibo and 0.8492 Frid high

    For more click on FXBUZ
















Source:
Refinitiv IFR Research/Market Commentary

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