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Dec 03 - 08:36 AM
EUR/GBP - Bulls Stopped Dead In Their Tracks
First appeared on eFXplus on Dec 03 - 06:35 AM
  • Monday bull run stopped dead in its tracks as engulfing line takes shape

  • Usually at top or bottom of a trend but engulfing candle still significant

  • Bulk of Mon's 0.8514-0.8575 climb wiped out and recent lows back in focus

  • Drop under 0.8500 opens up 2019 0.8456 low

  • We will monitor action around the 0.8500 level but stand aside for now

  • Weekly action developing into a tidy bear trend: Bolli target at 0.8461













EUR/GBP Trader:

EUR/GBP Daily Cadle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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