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Sep 13 - 05:55 AM

EUR/GBP - Long Upper Shadow Could Be Significant

By Peter Stoneham  —  Sep 13 - 04:35 AM
  • EUR/GBP rallied to a 1-1/2-year high Mon; then turned negative into close

  • Minimum correction off 0.8341-0.8721 comes at 0.8631

  • Daily RSI diverged on the high and is now falling

  • 14-day momentum still positive but beginning to fade

  • A daily shooting star candlestick formed, a bearish signal

  • All encouraging signs for our 0.8674 short play

  • The target is 0.8570 but this may change if bearish signals become stronger

    For more click on FXBUZ
















Source:
Refinitiv IFR Research/Market Commentary

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