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Oct 15 - 03:55 AM

EUR/GBP - Trend Slows And Hints At A S/t Reversal

By Peter Stoneham  —  Oct 15 - 01:47 AM
  • Down trend still alive but Thurs hammer offers some hope for longs

  • Long lower candle shadow bullish but signal needs Frid confirmation

  • Price pulled up 5-pips shy of the key 0.8450 Aug and 2021 low

  • Initial resistance to overcome at 0.8498 10DMA and 0.8518 Oct 12 high

  • 14-day negative momentum slowing and RSI is turning higher

  • Nov 1 0.8557-0.8559 cloud twist might start exerting influence

  • We maintain an 0.8504 long play for high 85s with 0.8445 stop

    For more click on FXBUZ
















EUR/GBP Trader:

EUR/GBP daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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