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Apr 08 - 06:55 AM

EUR/GBP - Pullback Risk But Can't Ignore Trend Damage

By Peter Stoneham  —  Apr 08 - 03:06 AM
  • Impressive two-day rally and a major trend shake up

  • Came within striking distance of key res. 55DMA, 30DMA Bolli and cloud base

  • Herein lies a trade opportunity with a natural short stop above cloud base

  • However, damage to the underlying bear trend suggests strong upside risk

  • We lean bearish but have to respect the bias for now

  • Weeklies set for strong reversal signal: adds to bullish potential

    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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