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Jan 19 - 02:55 AM

EUR/GBP - Rebound Corrective While Below The 10-Day Moving Average

By Peter Stoneham  —  Jan 19 - 02:10 AM
  • The 10-DMA helped to cap EUR/GBP's brief Thurs rally

  • Fresh one-month low recorded (0.8556) before an early Frid rebound

  • Dec. 11 low is at 0.8550 then the Sept. 5 0.8525 low

  • Daily and monthly RSIs are falling and are not oversold

  • Those are encouraging signs for our short play

  • The stop is lowered to 0.8595 which locks in some profit

  • Target remains 0.8520 but might be lowered on a sub-0.8550 close

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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